GECs
Zee argues ‘Time Bomb’ features not bound by copyrights
MUMBAI: Resuming its arguments on the serial Time Bomb in the Delhi High Court, Zee Telefilms today argued that, presentation features and formats were not bound by copyright laws.
“We have also screened some parts of the Time Bomb serial. We will screen its first episode on 1 July,” said Zee counsel Maninder Singh, adding that, the broadcaster has also brought the court’s attention to various global court rulings favouring the theory that presentation techniques and formats can’t be copyrighted.
Zee also screened CDs of various television shows and movies which have featured the split-screen and screen clock techniques. According to Singh, the Indian broadcaster was trying to prove its point that, these techniques have already been used on television and movies and hence can’t be monopolised by anyone. The Court has now adjourned the hearing to 1 July.
Twentieth Century Fox, had sought an injunction against Zee TV telecasting its Rs 110 million thriller Time Bomb. The US producer, in a suit filed on 17 June, had alleged that the Zee serial has copied the concept of its ongoing TV serial 24.
Since the court had refused to stay the Time Bomb telecast, the serial is currently on air. The second episode of the weekly is scheduled to go air tonight at 10 pm.
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.
