GECs
Max going to the US in October
MUMBAI: Max is steadily planning expansion overseas with its international channel, which is all set to launch in the US in October.
Speaking to indiantelevision.com, Sony CFO and Max business head NP Singh said, “We launched Max international in July. As of now we available in the Middle East on Pehla. Our next stop is the US. We are talking with different parties regarding carriage. We are currently testing in Europe and hope to launch in the third quarter.”
Singh added that while Max was looking at Africa as well a timeline for that launch has not been decided. “Australia and New Zealand are still some time away for us. For Hindi general entertainment and movie channels the strong markets are the Middle East, US, UK and Africa. In Asia they are Singapore, Hong Kong, Thailand, Malaysia.”
As far as challenges involved in distributing Max abroad are concerned Singh added that the first challenge is to make sure that the channel is available across all the international territories. “That is where our focus rests at the moment. You have to meet competition in every market that you get into. That is not something, which worries us.”
Singh noted with surprise that Israel was an emerging market for Indian channels and that China and Japan were also coming up. “Maybe Indian channels in their entirety cannot go into those markets yet as 24-hour channels due to capacity constraints. However many of those broadcasters are seeking Indian product for their networks.”
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.
