GECs
Incorrect and mischievous statements made by Vishwa Deepak
MUMBAI: It has come to the notice of Zee Media that Mr. Vishwa Deepak who was working with Zee News, after his resignation dated 19.02.2016, has made certain statements on various social media platforms which are not only incorrect but also defamatory and mischievous. Some of the media houses without proper verification of the facts and going into details of the false, incorrect and mischievous statements made by Mr. Vishwa Deepak, have portrayed the said statements as a statement of fact. It is disheartening to see that other media platforms without even caring to check with Mr. Pawan Nara who was reporting that night from JNU chose to believe and report wild allegations. By this statement ZMCL condemns and deny all the allegations made by Mr. Vishwa Deepak and wishes to highlight the following points appealing to all Media Houses to consider prior to portraying the statements as a statement of fact:
1. ZMCL is a large media house and people leaving and recruitments are a normal affair.
2. Mr. Vishwa Deepak was neither concerned nor was he involved in any stories related to the JNU issue.
3. Mr. Vishwa Deepak had never discussed any of these issues with anybody in the organization, if he had any.
4. The news report regarding happenings of events in JNU on 09.02.2016 and shouting of anti-national slogans such as ‘?????????????????’is a true factual event that was not only reported by ZMCL but also other Media houses which have also reported shouting of anti-national slogans.
5. It is evident from the raw footage shot by its cameraman that slogans such as ‘?????????????????’wereraisedin JNU on the night of 09.02.2016.
6. The raw footage of the happenings on the night of 09.02.2016 has been submitted by ZMCL to the Delhi Police and the Police Authorities are in the process of verifying the correctness and truthfulness of the said footage. ZMCL is confident and sure that the authenticity of the said footage would be once and for all clearly established by the reports of Delhi Police.
7. ZMCL is an independent media house which has no affiliations with any of the political parties and as such does not take any sides while reporting any news.
8. ZMCL has always endeavored to ensure that the news reported by it meets the standards of being unbiased, neutral and are true facts.
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.
