GECs
Max Stardust Awards on 18 February
Mumbai: ‘Stardust’ magazine along with Sony’s Hindi movie channel MAX will host the ‘Max Stardust Awards’ on 18 February at the Bandra Kurla Complex.
The ‘MAX Stardust Awards’ are said to be aimed at ‘generation next’ wave of actors. The awards will promote and encourage new talent. An official release categorically states that over-exposed and established stars do not qualify for nomination in the ‘MAX Stardust Awards’.
Only young talent and films that have made an impact in 2006 have been nominated for the ‘ MAX Stardust Awards’. The idea is to showcase and recognize the fresh, new faces who will emerge as the superstars of tomorrow.
MAX Business Head Sneha Rajani said, “MAX has always brought its viewers some of the most glamorous, high-energy entertainment events from the world of Movies. The high voltage MAX Stardust Awards which showcases the best of Bollywood is part of this tradition and has always been appreciated and loved by our viewers in the past. This year too we plan to bring to our viewers a truly spectacular experience.”
The function will be compact, exclusive and totally television-oriented with limited seating capacity.
MAX will telecast the Kenstar MAX Stardust Awards on Saturday, 3 March at 9.00 pm.
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.
