GECs
Star Plus commemorates the spirit of Mumbai Dabbawalas
MUMBAI: Mumbai’s dabbawalas are as important to the city as its lifeline, local trains. In recognition of their services in delivering with precision freshly made food to customers across the maximum city, Star Plus is undertaken a first of its kind initiative for dabbawalas.
Through a unique initiative, Sanjeev Kapoor and Team MasterChef India served a delicious treat to Mumbai’s dabbawalas as a token of their appreciation.
Kapoor, who is also the judge of MasterChef India-4, conferred the title of ‘Pyaar Ke Postmen’ upon the Mumbai dabbawalas and redefined the role played by them in the food industry. “Star Plus is the pioneer in bringing food on the forefront of Indian television and I am extremely happy with the initiative that Star Plus took in acknowledging the Dabbawalas for rendering a valuable service to the society. I only make food but the other part of my job is done by these Dabbawalas who make our food reach the mouths of the people. Dabbawalas are not just the carriers of food but also do the task of spreading joy and smiles. They are the ones who add true value to the food we cook. These Dabbawalas are the backbone of the population of Mumbai and may they continue to be for a lifetime. Star Plus and the MasterChef India team salute their undying spirit and hard-work,” he said.
Chef Ranveer Brar, who is also the judge on MasterChef India-4, added, “Food has always been an integral part of every relationship in the Indian cultural context and the Masterchef India team showed its appreciation for the role these Dabbawallas play in binding the family together through food. Unfortunately, due to prior commitments I could not be a part of the activity but I am thankful to the Mumbai Dabbawalas for making delivering the food cooked for loved ones on time.”
The Dabbawalas were delighted by the initiative of Star Plus appreciating their role in the food industry. “We, the dabbawalas, are highly motivated because we believe that delivering food to Mumbaikars is like a service to God, similar to giving medicine to the sick. We are thankful to the MasterChef India team for recognizing our efforts,” said a dabbawala.
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.
