GECs
Playwin fever spreads
The Playwin buzz is catching on.
The Essel group promoted online lottery fever is spreading through Mumbai city, if the success of its print campaign in today’s newspapers is any indication. Eveninger Mid Day, which carried coupons allowing free tickets, had two extra print runs to cater to the overwhelming demand, according to local vendors.
The “trial-inducing sampling” as Playwin Infrawest CEO Sanjay Das terms it, has obviously clicked. Similar coupons were printed in most dailies in the country today, including The Times of India, all Marathi, Tamil, Bengali, Hindi newspapers (in Punjab and Haryana). The ploy to ensure that the new concept catches on is working – the number of Playwin tickets sold is anywhere between 600,000 and 1 million daily, says Das. While Das says that all segments of society have been lured by Playwin’s novel concept of live, credible and transparent lottery, industry sources say it is in the ‘not-so-premium’ areas that ticket sales have really sky-rocketed.
Needless to say, the lottery is ensuring viewership for sister channel Zee TV as well. Zee’s new show celebrity talk show Jeena Isi Ka Naam Hai, which has been receiving good reviews, has an added attraction in that the weekly Super Lotto results are aired on the show.
Das says that while only 30 to 37 persons got five of the six numbers right during the live draws, ensuring prize money of upto Rs 20 million; a total of Rs 50 million will be given away this Thursday. The money will be divided among the number of five digit number winners equally, thus giving an impetus to lottery buyers to gamble even more.
Word of mouth publicity, banners at strategic places in metros and extensive advertising across the Zee network are all part of the multi- media strategy that has been put into place to promote Playwin. According to reports, the company has invested nearly Rs 3000 million on machines manufactured by International Lottery and Totalizator Systems of the US and has a nearly Rs 350 million ad budget.
But it seems a small price to pay. Accounting major PriceWaterhouse Coopers estimates that the turnover of Indian online lottery will be nearly Rs 200 billion at the end of the first year and Rs 1,000 billion by the end of the fifth. Zee, it seems, has truely hit its jackpot.
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.
