GECs
Prime Focus appoints Vikas Rathee as group COO
MUMBAI: Prime Focus today announced the appointment of Vikas Rathee, an investment banking and corporate finance professional as its group chief operating officer.
Rathee brings with him more than a decade of experience working with leading companies in the TMT (telecom, media and technology) sector with proven relationships and in-depth understanding of industry dynamics across US, Europe and Asia.
In his new role, Rathee, will work as part of Prime Focus’ corporate leadership to position Prime Focus among target customers as a key strategic partner as well as the investor and financial community as an incredible growth story that is moving rapidly towards realising its full potential in the global media and entertainment universe.
Announcing the appointment, Prime Focus founder Namit Malhotra said, “Vikas is a seasoned professional with unique combination of industry knowledge, corporate finance and capital markets experience, and M&A expertise who joins us at a perfect time, when we are at the cusp of our next aggressive wave of growth. His inter-cultural global work experience and eye for investment opportunities are in-sync with our planned growth strategy. I have huge confidence in Vikas’ ability to accelerate Prime Focus’ growth momentum in the coming years.”
Prime Focus India CEO Ramki Sankaranarayanan said, “Vikas coming on broad has strengthened our leadership team and will accelerate our next wave of growth. He comes with strong knowledge of both media and IT that is a key differentiator for PFT as well. As Prime Focus grows from strength to strength, Vikas’ addition will be important in helping the team manage the business with discipline, diligence and dynamism. His industry networks and relationships globally will act as catalyst to the growth of Prime Focus”
“I am delighted to be part of the world leader in media and entertainment industry services, Prime Focus. As an investment banking professional focused on the TMT space, I have closely watched the growth, consolidation and evolution of this dynamic sector on a global scale. Prime Focus, through the last decade and a half, has made a significant contribution to this evolution not only in India, but is now also having a profound impact on the international media and entertainment industry as well. Today as a unique service provider straddling creative and technology domains, and working with some of the biggest names in this seamless global industry, Prime Focus is all set to fuel growth to the next level. I look forward to working with Namit and Ramki in making this vision a reality.” said Rathee, on his appointment.
Vikas is an MBA in Finance and CFA, and comes with over 16 years of experience covering stints at Suzlon, Bank of America Merrill Lynch and ABN AMRO.
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.
