GECs
Indian animation needs a global outlook
MUMBAI: Among the key issues addressed by the recently concluded FICCI MEBC (Media and Entertainment Business Conclave) (South) in Bengaluru on 29 and 30 October was the state of the animation industry in India and what can be done to improve its lot.
The second day of the conclave saw a dedicated session titled ‘Emerging trends of Indian IP in animation and their exploitation’ with Turner International India senior director and network head for kids in south Asia Krishna Desai, Graphic India co-founder and CEO Sharad Devarajan, Shemaroo Entertainment director Jai Maroo, Krayon Pictures co-founder Nisith Takia and Greengold Animation founder and MD Rajiv Chilaka and Reliance Animation CEO Ashish Kulkarni as moderator.
Devarajan began by highlighting the need for a cohesive ecosystem favouring the country’s animation industry.
“Indian consumers today are used to seeing the best of the world and so, we need to transcend the national market and go to the international market,” he said, stressing the need to create content like that made by Stan Lee or Steven Spielberg. “Multi platform and global is how you have to think of stories today,” he said, pointing out how a version of Mahabharat was launched as 18 days, a re-imaging of the original by Graphic India at the San Diego Comic Con and went straight to Youtube.
Chilaka made a special reference to Chhota Bheem as a kids’ icon while speaking of Greengold’s huge success in the field of animation. “We have grown from just four to over 300 in 12 years. No one knows which show will work, so we have to just give it a shot. Chhota Bheem started off as just 10 products and now it is available in more than 3000 across 30 country stores. We didn’t realize that it would be a phenomenon but now we are confident about making a movie every year,” he said, pointing out that while IP monetisation was happening, it was equally important to build good infrastructure around it to help harness IP better.
Maroo said Shemaroo would help in distribution and marketing even though it wasn’t actively involved in the creation of animation. “There are people with great production and artistic capacity for whom we can work on aspects like music, distribution and marketing. The reason why characters like Bal Ganesh and Chhota Bheem work well is because of their sheer stickiness. We should have IP with an Indian soul but an international story. What the west has is sharp screenplay that translates across boundaries. That is what we lack,” he said.
Desai opined there wasn’t enough investment in animation and pointed out the difficulties in creating animated content. “There is less advertising revenue for a kids channel (Turner), so we also have less money to invest in new content,” he said.
Kulkarni said, “In India, animation is positioned as a kids’ genre,” to which, Devarajan gave an example of the Japanese, who have moved Anime from kids to a sophisticated audience. “Their characters have elasticity and a soul that appeals to various demographics. Why aren’t we creating any Clash of the Titans or Lord of the Rings?” asked Devarajan.
Chilaka said they needed to come up with interesting ways of promotion to grab eyeballs, citing the example of Raju. “We timed Raju to release three weeks before the football world cup and on TV, we did a premiere during the semi-final,” he said.
Maroo pointed out that very few screens were available across the country for animated movies, thereby restricting viewership. “This industry is the best when commerce meets creativity,” he said. Takia felt not many people understood the business even if they were superlative on the creative front. “We can call ourselves successful only when we galvanise the creative population,” added Devarajan. Maroo rounded off saying: “The future will be about how many different revenue platforms you build.”
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.
