GECs
ZILS focus on Zed Career Academy
Zee Interactive Learning Systems Ltd, the multimedia education subsidiary of Zee Telefilms, is currently in the middle of a major drive to increase awareness around its Zed Career Academy.
The initiative is part of the increased activity being witnessed in ZILS after the twin appointments recently of promoter Subhash Chandra’s son Amit Goenka as managing director and Dilip Mahapatra as COO. As director of learning centers, Mahapatra has been instrumental in expanding Zed Career Academy from 156 centres to a 300-plus strong nationwide ground network of comprehensive learning network consisting of learning web portals, multimedia and the print, supported by a network of learning centres, equipped with interactive learning, across South Asia with the capability to address a variety of learning needs, an official release states. While Mahapatra handles day-to-day operations, Goenka’s brief is to drive the business of ZILS, official sources say.
And in what is termed as a long-term relationship, ad agency SSC&B has been assigned the task of handling press publicity. The main focus is on print campaigns, which are being done through inserts in newspapers. Zee organises which paper and on what date they will appear while SSC&B provides the design. The agency is positioning Zed Career Academy as a “unique interactive computer learning institute” with the tagline – Classrooms of the future.
ZILS is also concentrating on below the line activities. For example, it is organising seminars in colleges. They also run show reels in cinemas, both in the suburbs and in the city. Touch screen kiosks have also been set up in some locations. The possibility of hoardings in important city locations is also being studied, the sources say. On the television front ZILS is regularly being promoted on through the Zee bouquet.
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.
