GECs
SCI FI UK signs first scripted drama deal
MUMBAI: The SCI FI channel in the U.K. has signed its first scripted drama production agreement, inking a deal with CHUM International and SpaceWorks for the 22-episode adventure series Ice Planet.
The show was created by SpaceWorks and will be filmed on location in London and Canada.
Set to debut this October, the series stars Michael Ironside as the head of a crew of scientists and soldiers on the maiden voyage of the spaceship Magellan after a vicious alien attack on Earth.
SCI FI programming director Jon Farrar noted, “Epic in scope and inventive in storytelling, Ice Planet promises an original look and feel to sci-fi scripted drama and we’re really excited to be involved. This production deal furthers SCI FI’s commitment to providing viewers with the best the genre has to offer and allows us to play an integral role in the development of what we hope will be a hit franchise in the UK and around the world.”
The production deal was arranged by Jon Helmrich of IBC representing CHUM International, which holds the exclusive worldwide distribution rights for the series.
There are plans to create an Ice Planet video game that will be linked in character, story and action to the show. A mobile game will also roll out in time for the television premiere. Also, SCI FI has appointed former Sky One head of drama Sara Johnson to consult as executive producer on the show.
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.
