GECs
NRIs plan to launch multi-lingual TV channel
MUMBAI: A group of non resident Indians (NRIs) are getting together to float a multi-lingual entertainment channel
The company, Manvik Vinjnan Communications Ltd (MVCL), will be based out of Thiruvananthapuram, Kerala. “The promoters are NRIs based out of Singapore and the Middle East,” says the company’s managing director Rajesh Narayanan.
The channel, Bhaarath TV, will offer programmes in Malayalam, Hindi, English, Tamil, Telugu, and Kannada. “We will be investing Rs 500 million towards the channel,” says MVCL executive director Rajan Mannaar.
Mini Purushotham, who was an executive at Sun Network, has been appointed as the CEO of the channel.
“We are planning to launch in September 2006. We have applied for the uplinking licence. We expect to start the test run in April,” Narayanan adds.
Explaining the strategy behind launching a multi-lingual channel, Narayanan said the plan was to attract prominent national as well as local advertisers. Elaborating on the content structure being planned, he said Bhaarath TV would telecast news in all the six languages.
“About 25 per cent of the content would be devoted to Malayalam language while Hindi will dominate the 7 pm – 10 pm evening primetime,” says Narayanan.
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.
