GECs
Discovery finalises plans for first local Indian production
MUMBAI: Foreign channels have discovered that the best way to penetrate the Indian market further is through dubbing and procuring locally relevant content.
Discovery will now go a step further with its Travel and Living Channel. Plans have been finalised for two shows that will air on Travel and Living later this year. In the past Discovery has enjoyed success with its Discover India time band. Here it buys documentaries from producers on a variety of subjects which it then airs on Saturdays at 9 pm, with a repeat telecast on Sundays at 9 am.
However the latest initiative marks the first time that Discovery will develop original concepts for commission to local producers. One show is based on cities in India. This six- episode series is currently in production. The second series, comprising 13 episodes, is about food and is currently in pre production.
While confirming the development a Discovery spokesperson refused to divulge further details saying that the shows would air in the October – December 2005 period. He added that one episode for one of the shows had already been shot.
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.
