GECs
I&B bans AXN for ‘objectionable’ content
NEW DELHI: The government has banned, with immediate effect, the telecast of Sony Entertainment’s action chanel AXN for two months for showing “obscene programmes”.
The information and broadcasting ministry today issued directions for blocking signals of the channel into India up to 15 March.
Sources told Indiantelevision.com that the ministry had taken objection to the channel repeatedly telecasting such programmes such as World’s Sexiest Commercials that “are against good taste or decency and are likely to adversely affect public morality”.
The government has been issuing warnings from time to time to various channels to desist from telecasting “obscene programmes” and software not suitable for women and children.
The Cable Television Networks (Regulation) Act 1995 clearly stipulates that the government has the right to block or take action against channels which violate the broadcasting and advertising codes of the country.
Multi-system operators (MSOs) like Hathway Cable & Datacom have blacked out AXN. Incablenet is in the process of switching off the channel, a senior executive in the company said.
GECs
Sebi sends show-cause notice to Zee over fund diversion, company responds
Regulator questions 2018 letter of comfort and governance lapses; company vows robust legal response
MUMBAI: India’s markets watchdog has reignited its long-running scrutiny of Zee Entertainment Enterprises, issuing a sweeping show-cause notice that drags the broadcaster and 84 others into a widening governance storm.
The notice, dated February 12, has been served by the Securities and Exchange Board of India to Zee, chairman emeritus Subhash Chandra and managing director and chief executive Punit Goenka, among others. At its heart: allegations that company funds were indirectly routed to settle liabilities of entities linked to the Essel Group.
The regulator’s probe traces its roots to November 2019, when two independent directors resigned from Zee’s board, flagging concerns over the alleged appropriation of fixed deposits by Yes Bank. The deposits were reportedly adjusted against loans extended to Essel Group entities, triggering questions about related-party dealings and board oversight.
A key flashpoint is a letter of comfort dated September 4, 2018, issued by Subhash Chandra in his dual capacity as chairman of Zee and the Essel Group. The document, linked to credit facilities availed by certain group companies from Yes Bank, was allegedly known only to select members of management and not disclosed to the full board—an omission SEBI believes raises red flags over transparency and governance controls.
Zee has pushed back hard. In a statement, the company said it “strongly refutes” the allegations against it and its board members and will file a detailed response. It expressed confidence that SEBI would conduct a fair review and signalled readiness to pursue all legal remedies to protect shareholder interests.
The notice marks the latest twist in a saga that has shadowed the broadcaster since 2019. What began as boardroom unease has morphed into a full-blown regulatory confrontation. The final reckoning now rests with SEBI—but the reputational stakes for Zee, and the message for India Inc on governance discipline, could scarcely be higher.
