GECs
Lakshmi Venkat joins UTV as creative director
Lakshmi Venkat has joined United Television as a creative director telefilms.
Venkat, who took up office on 1 October, is responsible for developing new shows and monitoring shows done by her, managing her in house teams as well as external talent on her shows. Apart from being responsible for quality control and high TRPs for her shows, she will also be look after client relationships with the channels, ensuring schedules are fixed and maintained as per client requirements.
UTV’s TV content division consists of multiple creative directors who are responsible for the creative as well as qualitative content of their respective divisions. The other creative directors at UTV are Zarina Mehta, Ramesh Balakrishnan and Neeraj Naik.
Venkat comes to UTV from Zee TV, where she worked first as programming head and before being reassigned in March 2000 to create a new international channel called “Chakra” for the Zee Network.
Prior to Zee, Venkat has worked as general manager, programming and business development for In-House Productions, Mumbai. Before that she was with the IndusInd group, initially on their cable channel project and later as channel chief of In-Mumbai.
She also had a brief stint as vice-president of Shogun Films, before getting back to freelance production with various assignments: supervising producer for a chat show on Home TV; city producer for the election specials on national broadcaster Doordarshan; as well as consultant on concept and design of a daily breakfast show.
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.
