GECs
MSM reshuffles senior management
MUMBAI: Multi-Screen Media(MSM) today announced that Sneha Rajani, will assume the position of deputy president and head, MSM Motion Pictures. Nachiket Pantvaidya, who has recently joined the network, takes over as senior executive vice president and business head, Sony Entertainment Television (SET). Anooj Kapoor, will assume additional responsibilities as senior executive vice president and business head, SAB, and also a new initiative in the Hindi entertainment space.
Sneha who was formerly business head, Sony Entertainment Television will have end to end responsibility for MSM Motion Pictures and will chart the success and future of that business as a key force in movie production. In this role, Sneha will also continue to handle film acquisitions for the network. Sneha has been associated with MSM for over 15 years and has previously been business head, MAX, which she launched and led for 10 years, before assuming responsibility of the flagship GEC, SET. She has played a key role in MSM’s movie buying strategy and was also instrumental in leading its cricket properties, such as, the ICC World Cup and IPL.
Nachiket, who was the business head of STAR Plus and also held several roles in the STAR TV network, including being the Head of STAR Pravah and MD of FOX Television Studios will now head SET. An IIM Ahmedabad alumnus, Nachiket has had stints with BBC and Disney in the past. He has also held several positions in MSM from 1996 to 2004.
With the success of SAB, Anooj has demonstrated capability for building differentiated audiences for the network. Anooj has been with MSM since 2007. Prior to joining MSM, Anooj worked with Colgate Palmolive as product manager, Lowe Lintas as Creative Director and also ran his own production advertising company. He has a Masters in English Literature and a MBA from SP Jain Institute of Management Studies.
Speaking on the occasion, MSM CEO N. P. Singh said, “I am certain that Sneha, Nachiket and Anooj will revitalize and provide fresh perspective to their respective areas of responsibility. Each brings unique strengths to grow the business & we wish them the best in their new roles. I am confident that 2014 will be a year of innovation and growth for MSM.”
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.
