GECs
Mukerjea, Sarkar meet top BJP leaders; discuss Star News
NEW DELHI: Star India CEO Peter Mukerjea and the owner-publisher of the Anand Bazar Patrika (ABP) group Aveek Sarkar paid a courtesy call to senior government officials in Delhi today.
The Kolkata-based Sarkar is set to pick up 74 per cent equity stake (estimated at Rs 750 million) in Media Content and Communication Services (MCCS) that oversees the functioning of Star News in India, including the uplinking of content from Indian soil.
Mukerjea, Sarkar and some senior executives from Star and the ABP group visited the deputy prime minister LK Advani as well as senior information and broadcasting ministry officials.
After several deliberations and closed-door confabulations, Star India has managed to bring the ABP group aboard MCCS – the holding company for Star News. The meetings with BJP leaders today looks like a part of Star’s endeavour to lay to rest a controversial case and allegations that Star News is being held by dummy companies and shareholders with no real powers. ABP will pick up 74 per cent of the equity, with Star holding the remaining 26 per cent – in line with the governments new rules for TV news companies.
It has been reported that Sarkar had informally briefed the senior members of his team about his intention to pick up the stake in MCCS.
Previous investors in a controversial dummy company with Rs 40 million equity, including Seth, TV personality Maya Alagh, former Bollywood actor Jeetendra and DSP Merrill Lynch’s Hemendra Kothari, will presumably be bought out. Sarkar was slated to meet Hindustan Times editor and MCCS investor Vir Sanghvi over dinner yesterday – incidentally, Sarkar was described by Sanghvi as “an old friend.”
It is, however, not known whether Star, directly or indirectly, would have some business interest in ABP or a subsidiary that may be interested in bringing out an edition of Telegraph from Mumbai, the stronghold of Times of India.
GECs
Sahara One reports financial results, notes director exit and business realignment
Muted revenues, steady expenses and strategic adjustments shape company’s current phase
MUMBAI: In a tale where the sands seem to be slipping faster than they can be gathered, Sahara One Media and Entertainment Limited has reported another quarter of wafer-thin income and widening losses, even as a boardroom exit adds to the unease.
The company informed the Bombay Stock Exchange that its board, in a meeting held on April 4, approved its unaudited financial results for the quarter ended September 30, 2025. The numbers paint a stark picture. Total income for the quarter stood at just Rs 0.13 lakh, unchanged sequentially and sharply down from Rs 0.26 lakh a year earlier.
Losses, meanwhile, deepened. The company posted a net loss of Rs 24.16 lakh for the quarter, compared to Rs 18.81 lakh in the June quarter and Rs 39.69 lakh in the same period last year. For the six months ended September 2025, the cumulative loss stood at Rs 39.69 lakh, while the full-year loss for FY25 was reported at Rs 60.72 lakh.
Expenses continued to outweigh income by a wide margin. Total expenses for the quarter came in at Rs 24.30 lakh, led by employee benefit costs of Rs 6.51 lakh and other expenses of Rs 17.78 lakh. Earnings per share remained in the red at Rs (0.11) for the quarter.
The balance sheet reflects a company with significant assets on paper but limited operational momentum. Total assets stood at Rs 23,065.57 lakh as of September 30, 2025, broadly unchanged from March 2025. Equity share capital remained steady at Rs 2,152.50 lakh, while total equity was reported at Rs 18,004.85 lakh.
Cash and cash equivalents saw a modest uptick to Rs 6.75 lakh from Rs 4.68 lakh earlier, supported by a positive operating cash flow of Rs 180.01 lakh for the period.
Yet, beneath these numbers lies a more complex narrative. The company’s auditors flagged their inability to obtain sufficient evidence to form a conclusion on the financial statements, citing lack of access to records. They also raised concerns over the company’s ability to continue as a going concern, pointing to insufficient funds, delayed recoveries, and stalled content investments.
Adding to the governance overhang, the company disclosed that Rana Zia has resigned as whole-time director, effective October 16, 2025, citing other professional commitments. The resignation, noted and accepted by the board, also brings an end to her role across company committees.
Regulatory pressures continue to loom large. The Securities and Exchange Board of India has already initiated penal actions for non-compliance with listing norms, with trading in the company’s shares remaining suspended. There is also a risk of promoter demat accounts being frozen.
Legacy legal issues remain unresolved. A substantial deposit of Rs 694,027.88 thousand linked to the long-running OFCD dispute involving Sahara group entities is still under the purview of the Supreme Court of India. Restrictions on asset disposal continue to weigh on the company’s financial flexibility.
Operationally, challenges persist across multiple fronts. Advances worth Rs 1,92,916 thousand given for film content remain stuck, with delays in project completion and uncertain recoverability. The company’s YouTube channel, despite being operational, has generated no revenue for over three years due to compliance lapses. In a further twist, management has indicated that revenues may have been fraudulently diverted through unauthorised changes to its AdSense account, with a police complaint in the works.
There are also missed revenue opportunities. Television content rights continue to be used by a related party despite the expiry of the licence agreement, with fresh negotiations still underway.
For now, Sahara One Media and Entertainment Limited appears caught between legacy disputes and present-day operational hurdles. As losses linger and governance questions mount, the road to recovery looks less like a sprint and more like a slow trudge through shifting sands.
