GECs
MTV makes music, again
MUMBAI: While it counts as the oldest music television network in Asia and the one brand that has always stood for all things youth, MTV India, Viacom18’s youth entertainment channel, is not one to rest on its laurels.
And so, in a bid to add an exciting new dimension to its youth connect as much as stay ahead in an already cluttered space, the channel has, in collaboration with Soundlogic, an American gadget major that set shop in India two years ago, and Croma, launched a range of music accessories under the flagship brand, MTV Fashiontronix.
The accessories including trendy earphones, Bluetooth ear buds and many more will be exclusively available at Croma stores across the country and on its website.
Speaking on the launch, Viacom 18 senior VP consumer products Saugato Bhowmik said: “We believe in catering to the youngsters and only want to expand our horizons across categories which cater to our thought process, be it related to fashion, gadgets, Bollywood etc.”
About the tie-up with MTV, Soundlogic director Sagar Gwallani said: “After the successful response we got here, we thought of enhancing our reach more among the youngsters. Hence, we collaborated with MTV because of its popularity among the youth and its digital following. The combination of our technical bandwidth along with the channel’s creative edge in the market will help us achieve our goal.”
On the collaboration, Infiniti Retail CEO & managing director Ajit Joshi said: “We sell products like JVL and Bose but today, youngsters want music on the go. It is a religion for them. And when we got an opportunity to address the needs of the youth of the country, we were glad to be part of it.”
MTV will market the new product range through its digital space. “Where do youngsters hangout? It’s cafes, colleges and are always on the digital platform. Apart from us, Croma too will be supporting us on its digital space,” informed Bhowmik, adding that the channel is in the planning stage of launching a marketing plan on its sister channels. “We have all the edge at our disposal and we will be utilizing our sister channels in the future,” he said.
Meanwhile, Joshi opined that the range, priced between Rs 899 and Rs 3999, doesn’t really need marketing as he could predict it would fly off the shelves as soon as youngsters got their hands on it.
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.
