GECs
Pakistan Telecom to offer IPTV services
MUMBAI: Pakistan telecom is planning to offer IPTV services in order to enter the triple play space and thereby boost its telecommunication service.
Pakistan IT and Telecommunications minister Awais Leghari has been quoted in a media report as saying that the new plan was part of the government’s policy to not only boost investment in its telecommunication sector but also to bring improvement in services.
Leghari Tuesday added that Pakistan was likely to attract up to $ 4 billion investment in the telecom sector in the next three to four years given the tremendous scope for growth and hunger for telecom services in the country.
“The telecom sector is Pakistan is poised for a massive growth in the coming years and already the sector has employed some 20,000 workforce so far which is expected to increase considerably over time,” he said in a meeting with International Telecommunication Union (ITU) Secretary General Yoshio Utsumi.
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.
