GECs
Sebi cautions Zeel for taking ‘considerable time’ to disclose Invesco notice
Mumbai: Post its board meeting on 11 November, Zee Entertainment Enterprises Ltd (Zeel) has notified the Bombay Stock Exchange of a caution letter issued by the Securities and Exchange Board of India (Sebi) on 21 October. The regulator cautioned Zeel for taking “considerable time” to disclose the requisition notice sent by its shareholders Invesco Developing Markets Fund and OFI Global China Fund LLC.
On 11 September, the two shareholders sent a notice to Zeel to call for an extraordinary general meeting of shareholders to pass a resolution reconstituting the board. Sebi’s letter indicates that Zeel took more than the stipulated 24 hours to disclose the notice and began the verification exercise after nearly 36 hours.
“Considering the gravity of the contents of the letter, such verification mail could have been sent by the company at the start of the business day itself on 13 September while simultaneously initiating their independent process of verification of their records,” noted Sebi.
“Since the disclosure had bearing on on-going e-voting; due to overlapping resolutions in the letter and the AGM; as a good governance practice the company should have disclosed the said letter within 24 hours of receipt of the letter,” it added.
Sebi has cautioned the company to exercise due diligence in ensuring the timeliness of disclosures. The letter stated that “any such aberration in the future would be viewed seriously and appropriate action would be taken.”
Zeel and its majority shareholder Invesco are embroiled in a boardroom battle after the investor sought to remove long-standing members of the board and its managing director and chief executive officer Punit Goenka. The matter is currently being heard by the Bombay high court and the next hearing is scheduled for 29 November.
GECs
Samsung TV Plus launches Kings of Comedy channel
New free FAST channel brings iconic Hindi comedy shows to millions of Samsung Smart TV owners.
MUMBAI: Samsung TV Plus has just turned up the laughter volume and it’s completely free. The leading free ad-supported streaming television (FAST) service in India has launched Kings of Comedy, a premium comedy channel featuring some of the country’s most beloved primetime shows. Available exclusively on Samsung TV Plus, the channel delivers back-to-back hits including Comedy Nights with Kapil, Khatra Khatra Khatra, and Comedy Nights Bachao, with no login or subscription required.
The launch marks a milestone for free streaming in India, offering audiences a dedicated comedy destination directly from their Samsung TV home screen. It arrives as Samsung TV Plus India celebrates its 5th anniversary, during which the service has grown its monthly active users by 42 per cent and more than doubled its total viewing hours. The platform now offers over 180 free channels across 14 languages.
Samsung TV Plus India general manager and head of business development Kunal Mehta said, “Comedy is the heartbeat of Hindi entertainment, and Kings of Comedy brings together the shows Indians already love, completely free on their Samsung TV. Our focus remains the same take the content people know and make it effortless to access.”
Globally, Samsung TV Plus has surpassed 100 million monthly active users across more than 4,500 channels, solidifying its position as one of the world’s leading free streaming services.
Kings of Comedy is now available on all compatible Samsung Smart TVs. For viewers seeking non-stop laughter without any cost, this new channel delivers a royal treat proving that sometimes the best entertainment really does come with no strings (or subscriptions) attached.
