GECs
Sony announces ‘Indian Idol 2’ series; six sponsors signed on
MUMBAI: March 2005 saw Abhijeet Sawant becoming a household name in India when the Mumbai boy was crowned the first ever Indian Idol on Sony Entertainment Television (SET). Riding on the success saga of the first series of the show, Sony has now announced the second series.
The channel has signed on Airtel, Asian Paints, Nokia, Marico, Maruti and Pepsi as the sponsors for the show, which would involve promotions on various conventional and unconventional media vehicles as well as innovations.
The second Indian Idol will be produced jointly by Miditech and Fremantle. The judges (Farah Khan, Sonu Nigam and Anu Malik) and the hosts (Aman Yatan Verma and Mini Mathur) of the show remain the same as the previous series.
Like last time, Sony will yet again unleash another wave of innovations as part of its 360-degree marketing and communication campaign.
SET India CEO Kunal Dasgupta says, “Indian Idol’s internationally successful format has not only hooked millions of viewers the world over but has also proved itself as a credible to be the platform for that catapulting true talent in India to unparalleled stardom. As witnessed last year, Indian Idol truly holds the potential to deliver a massive ratings success and create national frenzy. We are certain that this year, Indian Idol will only get bigger and better, taking Sony to greater heights.”
In addition to a recording contract with Sony BMG, the Indian Idol will be awarded a contract with Sony worth Rs 100 million.
Registrations for the second season of Indian Idol begins this month. Contestants can dial 646 from their Airtel phone or register via their landlines. The Indian Idol crew will travel to 13 cities including Jaipur, Ajmer, Jodhpur, Baroda, Ahmedabad, Indore, Bhopal, Chandigarh, Karnal, Mumbai, Delhi, Lucknow and Kolkata, inviting registrations from participants. The eligible ones will receive the audition details.
In October, auditions will be held in Mumbai, Delhi, Lucknow and Kolkata where the show producers will first shortlist contestants. The contestants will then be auditioned and short listed by producers of the show. Thereafter, the panel of judges will undertake the task of choosing 150 Indian Idol aspirants from those who register.
The judges will further whittle these 150 down to 28 in November. From hereon, viewers will be able to cast their votes for the 12 finalists.
SET India executive vice president and business head Tarun Katial said, “As witnessed last year, Indian Idol took viewer engagement and interactivity to new heights and catapulted its finalists to ultimate stardom. This year too, the channel will give its viewers the platform to realise their dreams and put fame and fortune within their reach while offering distinctive, breakthrough entertainment. This year too, Indian Idol will be packed with all the elements of reality, scale, emotion and the journey itself, that will make the Indian audiences connect with it, leading to extreme interactivity involvement and mass frenzy.”
GECs
Sahara One reports financial results, notes director exit and business realignment
Muted revenues, steady expenses and strategic adjustments shape company’s current phase
MUMBAI: In a tale where the sands seem to be slipping faster than they can be gathered, Sahara One Media and Entertainment Limited has reported another quarter of wafer-thin income and widening losses, even as a boardroom exit adds to the unease.
The company informed the Bombay Stock Exchange that its board, in a meeting held on April 4, approved its unaudited financial results for the quarter ended September 30, 2025. The numbers paint a stark picture. Total income for the quarter stood at just Rs 0.13 lakh, unchanged sequentially and sharply down from Rs 0.26 lakh a year earlier.
Losses, meanwhile, deepened. The company posted a net loss of Rs 24.16 lakh for the quarter, compared to Rs 18.81 lakh in the June quarter and Rs 39.69 lakh in the same period last year. For the six months ended September 2025, the cumulative loss stood at Rs 39.69 lakh, while the full-year loss for FY25 was reported at Rs 60.72 lakh.
Expenses continued to outweigh income by a wide margin. Total expenses for the quarter came in at Rs 24.30 lakh, led by employee benefit costs of Rs 6.51 lakh and other expenses of Rs 17.78 lakh. Earnings per share remained in the red at Rs (0.11) for the quarter.
The balance sheet reflects a company with significant assets on paper but limited operational momentum. Total assets stood at Rs 23,065.57 lakh as of September 30, 2025, broadly unchanged from March 2025. Equity share capital remained steady at Rs 2,152.50 lakh, while total equity was reported at Rs 18,004.85 lakh.
Cash and cash equivalents saw a modest uptick to Rs 6.75 lakh from Rs 4.68 lakh earlier, supported by a positive operating cash flow of Rs 180.01 lakh for the period.
Yet, beneath these numbers lies a more complex narrative. The company’s auditors flagged their inability to obtain sufficient evidence to form a conclusion on the financial statements, citing lack of access to records. They also raised concerns over the company’s ability to continue as a going concern, pointing to insufficient funds, delayed recoveries, and stalled content investments.
Adding to the governance overhang, the company disclosed that Rana Zia has resigned as whole-time director, effective October 16, 2025, citing other professional commitments. The resignation, noted and accepted by the board, also brings an end to her role across company committees.
Regulatory pressures continue to loom large. The Securities and Exchange Board of India has already initiated penal actions for non-compliance with listing norms, with trading in the company’s shares remaining suspended. There is also a risk of promoter demat accounts being frozen.
Legacy legal issues remain unresolved. A substantial deposit of Rs 694,027.88 thousand linked to the long-running OFCD dispute involving Sahara group entities is still under the purview of the Supreme Court of India. Restrictions on asset disposal continue to weigh on the company’s financial flexibility.
Operationally, challenges persist across multiple fronts. Advances worth Rs 1,92,916 thousand given for film content remain stuck, with delays in project completion and uncertain recoverability. The company’s YouTube channel, despite being operational, has generated no revenue for over three years due to compliance lapses. In a further twist, management has indicated that revenues may have been fraudulently diverted through unauthorised changes to its AdSense account, with a police complaint in the works.
There are also missed revenue opportunities. Television content rights continue to be used by a related party despite the expiry of the licence agreement, with fresh negotiations still underway.
For now, Sahara One Media and Entertainment Limited appears caught between legacy disputes and present-day operational hurdles. As losses linger and governance questions mount, the road to recovery looks less like a sprint and more like a slow trudge through shifting sands.
