GECs
Publicis acquires Beehive Communications
MUMBAI: The Publicis Groupe has acquired six companies since mid-2012 and today, it was time to take one more leap. In a new development, the French multinational advertising and PR major announced the acquisition of Beehive Communications, one of the country’s foremost independent integrated communications agencies, which serves clients across South Asia.
With this deal, Beehive will be rebranded Publicis Beehive, to operate as a unit within Publicis Worldwide’s global network. The agency’s current team will continue to lead it under the direction of founder and CEO Sanjit Shastri, and will report in to CEO South Asia Publicis Worldwide Nakul Chopra.
Without disclosing the value, Shastri said both companies were happy and added that the deal gave Beehive a wider platform, better growth prospects and overall appeal as the agency was entering a totally new league. He pointed out that the work strategy would be pretty much similar to what has been the norm so far.
“I think we will continue with our same old approach, focusing on building steps and verticals and providing integrated solutions through digital media and other creative platforms. Employees will be benefitted too as they will get much more exposure and will get to work at a higher level. We have clients from four different buckets including retail, education, travel and tourism and we have recently started handling a few clients from real estate as well. We are also in the process of signing deals with a few more real estate people,” he said.
For Publicis, the Beehive acquisition marks a significant step in becoming the leading communications network in India.
“Beehive brings both scale and strategic value to the Publicis offering in India. The verticals that they have are complimentary. Like, Publicis currently has very good exposure in sectors such as food, beauty, fashion, personal sector etc. While Beehive comes with exposure in other sectors, they are not exposed to the areas that we handle. So, the association is going to be a learning experience for both the companies,” said Chopra and added that their employees would be benefitted as well. “Employees of the smaller company gain by being a part of the larger organisation. They gain because they are exposed to better platforms and newer opportunities,” he added.
B Sanjit Shashtri (L) and Nakul Chopra (R) are expecting their association to reap profits
Founded in 2003, Beehive Communications today employs more than 130 staff, and provides integrated solutions in creative, reputation management, media, digital, brand activation and research. Beehive’s clients (over 50) include the likes of Malaysia Tourism, General Motors, Korea Tourism, Jubiliant Retail, India Bulls Finance and Bisleri among others. Headquartered in Mumbai, it has a presence in Delhi and Bangalore as well. Known for its ability to build expertise in important vertical markets with speed and efficiency, the agency has built a reputation for growing and winning over their clients.
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.
