GECs
Star Plus to host awards based on Box office collections
MUMBAI: In a bid to up the ante of Bollywood Awards shows in India, Star Plus has partnered with Box Office India magazine to present a new offering. Come October, the channel is all set to launch ‘Star Box Office Awards.’
It will recognise an achievement of Hindi films at the most important altar of them all – the box office. The event will see the big and mighty of the film industry with Salman Khan leading the way.
Keeping in mind that box office collections govern the success of each movie, not only by virtue of the revenues made, but also as a measure of the number of people investing their time in watching any movie; these awards have been introduced to felicitate the best works of the year.
In addition to honouring films, directors and actors of the year, the ‘Star Box Office India Awards’ will also recognise unique and interesting records set at the box office. Since there is nothing more objective than numbers as represented by box office collections, the collections of each movie will be at the core of the entire nomination and judging process. The ceremony has been conceptualised keeping in mind the celebratory mood of the country, during the upcoming festive season.
Star Plus general manager Gaurav Banerjee believes that viewers are always interested in films that have been the most popular and who are the stars who have the biggest draw. “We are happy to have partnered with Box Office India magazine to come up with the first ever ‘Star Box Office India Awards.’ These awards are the first to be primarily based on Box Office collections. In essence it’s really people’s votes in the form of their hard earned money which sets the box office register ticking. The first ‘Star Box Office India Awards’ will have the most iconic Bollywood names on stage and provide for a perfect Diwali celebration for all Star Plus viewers.”
Box Office India publisher Nitin Tej Ahuja feels that show business is ultimately a business and it is box office numbers – historic or potential that drive the entire film production distribution and exhibition ecosystem. “As India’s premier film trade magazine, box office collections are at the very heart of Box Office India’s editorial mandate and we are delighted to partner with Star Plus on the ‘Star Box Office India Awards.’”
Ahuja further goes on to say that Box office collections are the most objective measure of the paying public’s acceptance or rejection of films and the ‘Star Box Office India Awards’ shall honour the verdict of the actual film watching audiences. “Conversely, the awards ceremony shall give our readers – the film fraternity – a chance to repay the love of movie-goers by doing what they do best, entertain!”
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.
