GECs
CBS to find the next designing Diva
MUMBAI: CBS has announced that television journalist Joan Lunden will host its upcoming reality series Finding The Next Designing Diva.
The series will pit 12 people with a creative knack for the finer things in life in a no-holds-barred competition to crown the country’s new authority on at-home living. The contestants will compete in different areas of beautifying the home and entertaining, including gardening, cooking, baking, sewing, crafts, floral arranging and decorating.
In addition to chronicling relationships that develop amongst the participants, each week a contestant will be eliminated from the series when they are judged on their flair for elegant living, party planning and expertise in homemaking.
Lunden added, “I have worked side by side with some of the best chefs and lifestyle experts for years on morning television. Now I can bring that experience, as well as my hosting skills, to a show that is certain to take ‘domestic arts’ to a new level of excitement,”
Lunden co-hosted Good Morning America from 1980 till 1997. During her tenure, she reported from 26 countries, covered four presidents, five Olympics and two royal weddings. Lunden also hosts and executive produces Behind Closed Doors with Joan Lunden.
In the show Lunden has been allowed access to the inner workings of places few have ever seen, including flying at 65,000 feet in a U2 Reconnaissance aircraft, survival training with Army’s Special Forces, the Culinary Institute of America.
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.
