GECs
Network18 announces new organisation structure with 3 clusters
MUMBAI: Network18 has announced a recasting of its major cluster groups in order to exploit better efficiencies and achieve faster growth.
It will have just three clusters. The English & business cluster includes CNN-News18, CNBC-TV18, Awaaz and Bajaar, CNBC HD Prime & News18 International. The Hindi cluster includes News18 India & News18 Hindi regional channels (UP/UK, MP/CG, Rajasthan, Bihar/JK, Urdu & Himachal-Punjab-Haryana) while the languages cluster includes all News18 regional channels minus Hindi—TN, Kerala, Kannada, Odisha, Bengal, Assam/NE, Gujarat & News18-Lokmat.
Three key appointments have been made to bolster each cluster and drive it to the next level of operational excellence. Basant Dhawan joins as CEO of the English/business cluster. An engineer and an alumnus of IIM Calcutta, Dhawan joins Network18 from Star India where he spent the last four years in a variety of roles. His last role was national agency business head for entertainment sales in Star India. Dhawan will be based in Mumbai.
The CEO of the Hindi cluster is Mayank Jain, who will lead the fast-growing News18 India and the cluster of other news channels across various Hindi speaking states. Jain, who will be based in New Delhi has joined Network18 from Star India's entertainment division. He is an INSEAD alumnus, and has experience in a raft of sectors ranging from telecom and FMCG to financial services across geographies.
Karan Abhishek Singh has joined as CEO for languages cluster, also from Star India where he managed integrated sales for television and digital. His last role involved heading pan-India agency relationships. Singh will be based in Bengaluru. He is an alumnus of NMIMS, Mumbai, and has worked in organisations as varied as PepsiCo, Nokia, Godrej Sara Lee, HLL and GE.
All three will report to Network18 COO Avinash Kaul.
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.
