GECs
ZEE5 Global collaborates with the LuLu Group in the middle east to celebrate ‘India Utsav’
Mumbai: ZEE5 Global has partnered with the LuLu Group for their ‘India Utsav’ celebrations. The event was launched at the same time across the GCC countries on 15 August 2022, at Al Wahda Mall in Abu Dhabi, in the Group’s first-ever simultaneous region-wide launch of its celebration of the 75th Indian Independence Day-Azadi Ka Amrit Mahotsav.
The festival was launched at the LuLu Hypermarket Al Wahda Mall in Abu Dhabi by the Indian ambassador to the UAE, H.E. Sunjay Sudhir, alongside LuLu Group International chairman and managing director Yusuff Ali, ZEE5 Global chief business officer Archana Anand, and other top government officials.
ZEE5 Global chief business officer Archana Anand said, “It’s a highly exciting time for ZEE5 Global as we have galloped ahead to become the No.1 streaming platform for South Asian content across multiple global markets, including the Middle East. We now look forward to continuing to build on this success through multiple local initiatives and, on the back of our compelling content, further deepening our connection with South-Asian audiences here. We are thrilled to partner with LuLu for their ‘India Utsav’ celebrations. This marks the continuation of a wonderful and deep relationship with them, and with the region.”
‘India Utsav’ is a retail festival at LuLu that highlights the three Cs of the Indian experience: culture, commerce, and cuisine. It showcases the close commercial ties the UAE enjoys with India.
Indian ambassador to the UAE H.E. Sunjay Sudhir said, “We are delighted to note that LuLu Group is celebrating the ‘India Utsav’ across all their stores on the historic occasion of ‘Azadi Ka Amritmahotsav’ and I thank LuLu Group for always promoting India and Indian products through their hypermarkets. No doubt, initiatives such as this will go a long way towards further promoting the trade ties between India and the UAE.”
LuLu Group International chairman and managing director Yusuff Ali said, “Needless to say, India is very close to my heart and mind emotionally. On the occasion of the 75th Independence Day, I would say that the country is an emerging economic superpower, and the visionary foreign policy of PM Modi has led to stronger India-GCC ties, and the UAE is emerging as one of India’s staunch business partners. I believe strongly that the LuLu Group can be a key player in this vision of the future for India.”
LuLu has partnered with ZEE5 Global this year, and ZEE5 will fly in popular actor Sonali Bendre to meet and greet fans in the UAE.
Customers at LuLu Hypermarkets across the GCC will also receive a free annual subscription to ZEE5’s with every purchase of AED 1,000 or more, as well as a free one-month subscription or a 50 per cent discount on a yearly subscription with every purchase of AED 100 or more.
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.
