GECs
RBNL all set to relaunch Big Magic
MUMBAI: Indeed, good decisions lead to great success. Getting into the stable of one of India’s leading media conglomerates has opened up several opportunities for Reliance Broadcast Network Ltd (RBNL).
After the acquisition deal with ZEEL, RBNL is all set to relaunch its Hindi general entertainment channel, Big Magic with a new programming line-up in March.
ZEEL acquired the TV business of RBNL which includes two channels — Big Magic and Big Ganga. Big Magic, a comedy channel catering to the Hindi-speaking markets, has now been revamped into a variety entertainment channel. On the other hand, Big Ganga is a Bhojpuri entertainment channel which caters to the television audience of Bihar, Jharkhand and eastern Uttar Pradesh.
The channel has already started revamping the content and its latest offering ‘Akbar’ is a part of the new offering. The show aims to unravel the prodigious journey of the Mughal emperor right from the days of his childhood, and traces his path to the throne in a manner that has never been projected before, on Indian television.
Speaking to Indiantelevision.com, RBNL CEO Tarun Katial said, “We are prepared and gung-ho about relaunching Big Magic. Recently, we launched Akbar which is a historical show. Three-four big shows are in the pipeline for the relaunch.”
The channel is not only changing its programming but also expanding its time band. “We are making it wider and deeper as we are increasing the number of hours of programming. We will add variety to it,” he added.
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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.
