GECs
Friday spells war on Star Plus and Sony
MUMBAI: Star Plus and Sony seem to be spewing a war on Friday. Come 19 November and Plus will weave in two shows at 9:30 pm and 10:30 pm slot – the relaunch of Khul Ja Sim Sim and a new show Kaal Chakra.
Sony’s big-ticket show Indian Idol will also be launching it’s ‘results special’ on Fridays which is scheduled to air next week, from 9:30 – 10 pm. Plus’ Khul Ja Sim Sim will be taking on Idol as well as Sony’s stellar show CID at 10 pm. .
Sony is also replacing Devi with Aahat 2 at the 9 pm slot on Fridays. To counter this move, Star Plus is moving Shararat from 9:30 pm to the 9 pm slot. Similarly, Karma on Star has been pushed to 8 – 9 pm slot to take on Sony’s KKoi Dil Mein Hai at 8:00 PM and Saaksshi at 8:30 pm.
A war is also brewing in the 10.30 pm band. Riding on Idol, Sony is launching a new show in December. Star Plus is not lying idle. Kaal Chakra, a weekly soap, will air from 19 November.
With Plus and Sony beefing up their line up, the battlefield seems to be shifting to Fridays. Is this the beginning of Plus’ response to Idol’s success?
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.
