GECs
IMI seals Delhi unit in anti-piracy raid
MUMBAI: The Indian Music Industry’s (IMI) anti-piracy team, in co-operation with the Censor Board of India had conducted a raid on 9 November and sealed a piracy unit in West Delhi. Operating under the name of Dugobs Replication Company, the raid on the establishment lead to seizure of goods valued at over Rs 200 million.
IMI, represents the recording industry of India and is affiliated to the International Federation of the Phonographic Industry (IFPI), the world industry body.
The piracy plant located at A – 25/ 2 Naraina Industrial area, phase I, as been hsealed and the establishment owner, Hiranand has been arrested.
In total, over 90,000 CD’s and 10,00,000 inlay cards have been recovered along with equipment including a stamping and molding unit, a printing unit, a packing unit, a plant handling computer system and over 19 stampers, informs a statement.
A first information report (FIR) has been registered against the accused and he is currently in police remand while further investigations are ongoing.
Commenting on the raid, IMI deputy chief coordinator J N Saxena said, “This is an excellent piece of police work on information provided by IMI, and the police is now pursuing leads for facilitating further investigations. It is IMI’s constant endeavour to eradicate piracy, and together with judicial bodies and governmental agencies, we hope to one day seal all such nefarious establishments and bring to justice those who are guilty”.
Elaborating further, IMI president VJ Lazarus added, “IMI has been working for the last ten years to control piracy and in the last four months itself, it has conducted raids on two of Delhi’s biggest CD plants- Deepak Arts CD plant and Dugobs Replication Company.”
Deepak Arts CD plant was raided in July 2006 where goods worth over Rs 300 million were seized. The accused Deepak Malhotra, was arrested and placed in judicial custody for more than 40 days.
IMI has constantly been demanding an optical disc law to be created in India to monitor CD plants. However, there has not been much success on this issue so far, adds the release.
In Delhi, IPR is being flouted at every nook and corner in places, which include the Pallika Bazar, Chandni Chowk and Lala Lajpatrai market.
GECs
Sahara One reports financial results, notes director exit and business realignment
Muted revenues, steady expenses and strategic adjustments shape company’s current phase
MUMBAI: In a tale where the sands seem to be slipping faster than they can be gathered, Sahara One Media and Entertainment Limited has reported another quarter of wafer-thin income and widening losses, even as a boardroom exit adds to the unease.
The company informed the Bombay Stock Exchange that its board, in a meeting held on April 4, approved its unaudited financial results for the quarter ended September 30, 2025. The numbers paint a stark picture. Total income for the quarter stood at just Rs 0.13 lakh, unchanged sequentially and sharply down from Rs 0.26 lakh a year earlier.
Losses, meanwhile, deepened. The company posted a net loss of Rs 24.16 lakh for the quarter, compared to Rs 18.81 lakh in the June quarter and Rs 39.69 lakh in the same period last year. For the six months ended September 2025, the cumulative loss stood at Rs 39.69 lakh, while the full-year loss for FY25 was reported at Rs 60.72 lakh.
Expenses continued to outweigh income by a wide margin. Total expenses for the quarter came in at Rs 24.30 lakh, led by employee benefit costs of Rs 6.51 lakh and other expenses of Rs 17.78 lakh. Earnings per share remained in the red at Rs (0.11) for the quarter.
The balance sheet reflects a company with significant assets on paper but limited operational momentum. Total assets stood at Rs 23,065.57 lakh as of September 30, 2025, broadly unchanged from March 2025. Equity share capital remained steady at Rs 2,152.50 lakh, while total equity was reported at Rs 18,004.85 lakh.
Cash and cash equivalents saw a modest uptick to Rs 6.75 lakh from Rs 4.68 lakh earlier, supported by a positive operating cash flow of Rs 180.01 lakh for the period.
Yet, beneath these numbers lies a more complex narrative. The company’s auditors flagged their inability to obtain sufficient evidence to form a conclusion on the financial statements, citing lack of access to records. They also raised concerns over the company’s ability to continue as a going concern, pointing to insufficient funds, delayed recoveries, and stalled content investments.
Adding to the governance overhang, the company disclosed that Rana Zia has resigned as whole-time director, effective October 16, 2025, citing other professional commitments. The resignation, noted and accepted by the board, also brings an end to her role across company committees.
Regulatory pressures continue to loom large. The Securities and Exchange Board of India has already initiated penal actions for non-compliance with listing norms, with trading in the company’s shares remaining suspended. There is also a risk of promoter demat accounts being frozen.
Legacy legal issues remain unresolved. A substantial deposit of Rs 694,027.88 thousand linked to the long-running OFCD dispute involving Sahara group entities is still under the purview of the Supreme Court of India. Restrictions on asset disposal continue to weigh on the company’s financial flexibility.
Operationally, challenges persist across multiple fronts. Advances worth Rs 1,92,916 thousand given for film content remain stuck, with delays in project completion and uncertain recoverability. The company’s YouTube channel, despite being operational, has generated no revenue for over three years due to compliance lapses. In a further twist, management has indicated that revenues may have been fraudulently diverted through unauthorised changes to its AdSense account, with a police complaint in the works.
There are also missed revenue opportunities. Television content rights continue to be used by a related party despite the expiry of the licence agreement, with fresh negotiations still underway.
For now, Sahara One Media and Entertainment Limited appears caught between legacy disputes and present-day operational hurdles. As losses linger and governance questions mount, the road to recovery looks less like a sprint and more like a slow trudge through shifting sands.
