GECs
TV 18 breaks off ad sales deal with Sony for CNBC India
Is it the precursor to a parting of the ways? Maybe, maybe not. Raghav Bahl’s Television Eighteen India Ltd declared today that henceforth it would be managing the sales of advertisement time (free commercial time) of CNBC India business news channel.
Ad sales has been managed from the beginning of the channel’s launch in India by Sony Entertainment Television (SET). TV 18 has set up the initial marketing infrastructure, which is being further strengthened for handling ad sales, the company has said.
Queried about the fate of the distribution alliance that TV 18 has with SET for CNBC India, chief executive Haresh Chawla said he could only confirm that the arrangement would continue in its present form till March 2003. After that everything was open, Chawla admitted.
The announcement was tied into TV 18’s finally closing the chapter on an on again off again courting that has gone on for over two years. The company declared today that it had has informed the Bombay Stock Exchange that it planned to retain its 49 per cent equity stake in CNBC India and would not be divesting any equity in CNBC India in favour of SET.
TV 18 holds 49 per cent in CNBC India through Television Eighteen Mauritius Ltd. The remaining 51 per cent is held by CNBC Asia. Earlier the board of directors of the company had decided to give up 20 per cent stake out of the 49 per cent in favour of SET Satellite (Singapore) Pvt Ltd. Market sources had pegged the value of the deal at Rs 200 million.
TV 18 BOARD APPROVES ALLOTMENT OF EQUITY SHARES:
At the meeting of the board of directors of TV 18 held today, it was decided that:
1. Allotment of 7,00,000 equity shares of Rs 10 each issued at a premium of Rs 78 per share aggregating to Rs 88 per share as preferential allotment pursuant to the approval of the board meeting dated 7 December, 2001 and the EGM dated 2 January, 2002.
2. Issue of secured partly convertible debentures (SPCD) of Rs 150 each, to be issued to the existing shareholders on rights basis in the ratio of one SPCD for every 13 equity shares held. The detailed terms and conditions will be worked out in consultation with the lead managers to the rights issue.
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.
