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Zee and InGovern clash over new governance report
Proxy firm questions promoter control; Zee calls report biased and outdated
MUMBAI: The governance battle at Zee Entertainment Enterprises Limited (Zeel) has intensified after proxy advisory firm InGovern Research Services released a critical “Governance Watch” report on the company.
Zee has strongly rejected the report, calling it “biased,” “misleading,” and a repetition of old issues. The dispute centres on questions about who really controls one of India’s largest broadcasters.
InGovern says the Goenka promoter family still exerts strong influence over Zee despite holding only about 3.99 per cent of the company’s shares.
The firm’s main concern is Punit Goenka’s continued role as CEO. Shareholders voted against his reappointment as a director in late 2024, but he remains in charge of the company. InGovern argues this effectively bypasses the will of investors.
The report also highlights his pay package, which it says is about 40 times the average Zee employee’s salary.
Zee has denied the allegations and said the report lacks proper diligence. The company claims the issues raised are old and that the board has already taken steps to improve governance.
It also stated that all related-party transactions are transparent and that there is no governance crisis.
The dispute comes at a difficult time for Zee. The company is dealing with the collapse of its proposed merger with Sony and ongoing legal battles over cricket broadcasting rights.
With institutional investors owning most of the company, the debate over control versus ownership could affect investor confidence and future funding.
For now, InGovern is pushing for major board changes, while Zee is focusing on its turnaround plans. The outcome could shape how investors view the company’s governance going forward.
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Ola Electric announces Champion Mahotsav with Rs 10,000 benefits
Three-day offer across scooters and motorcycles celebrates India’s T20 World Cup win
BENGALURU: Ola Electric has announced #ChampionMahotsav, a three-day nationwide celebration offering benefits worth Rs 10,000 across its vehicle portfolio, following India’s historic third ICC Men’s T20 World Cup victory.
During the limited-period celebration, customers can avail benefits worth Rs 10,000 on any Ola scooter or Roadster motorcycle, extending the festive mood among fans after the national triumph.
An Ola Electric spokesperson said the initiative builds on the strong response received during the company’s earlier Match Mahotsav campaign held during the tournament final.
“Our Match Mahotsav during the T20 World Cup Final received an incredible response from fans across the country. To celebrate India’s historic third T20 World Cup victory, we are extending the celebrations for three more days with #ChampionMahotsav, offering benefits worth Rs 10,000 on any Ola vehicle,” the spokesperson said.
Ola Electric currently offers a broad portfolio of Gen 3 S1 scooters and Roadster X motorcycles.
The premium Gen 3 S1 range includes the Ola S1 Pro+ in 5.2kWh and 4kWh configurations, and the Ola S1 Pro in 4kWh and 3kWh options, priced at Rs 1,85,338, Rs 1,65,338, Rs 1,39,999 and Rs 1,19,999 respectively.
In the mass segment, the company offers the Ola S1 X+ with a 4kWh battery, along with the Ola S1 X in 2kWh, 3kWh and 4kWh configurations, priced at Rs 1,14,999, Rs 77,999, Rs 93,999 and Rs 1,09,999 respectively.
Ola’s motorcycle line-up includes the Ola Roadster X+ in 4.5kWh and 9.1kWh configurations priced at Rs 1,04,999 and Rs 1,84,999. The Ola Roadster X is available in 2.5kWh, 3.5kWh and 4.5kWh options, priced at Rs 74,999, Rs 87,999 and Rs 94,999 respectively.
With #ChampionMahotsav, the company aims to ride the celebratory wave across the country while encouraging more consumers to switch to electric mobility.
