GECs
US-based Atis launches IPTV standards forum
MUMBAI: Alliance for Telecommunications Industry Solutions (ATIS) has announced the formation of the IPTV Interoperability Forum (IIF) to develop ATIS standards and related technical and operations activities that enable the interoperability, interconnection and implementation of IPTV systems and services, including video on demand and interactive TV services.
Atis is a United States based body that is committed to rapidly developing and promoting technical and operations standards for the communications and related information technologies industry worldwide using a pragmatic, flexible and open approach.
“IPTV will enable consumers to use television as never before,” Atis chairman Bill Smith said. “Video on demand and interactive services are among the exciting ‘killer apps’ that IPTV will make possible. The Atis IIF will provide the neutral ground for carriers, service providers, application developers, content providers and equipment manufacturers to work together and make the wide-scale deployment of standardized IPTV a reality.”
The Atis Board of Directors launched the IIF on the recommendation of the ATIS IPTV Exploratory Group (IEG), which was formed in April to examine the technical issues surrounding the successful wide-scale deployment of IPTV.
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.
