GECs
Colors partners with Diwaili @Times Square In the US; telecast on 26 November
Mumbai: Times Square, New York is a location almost everyone heads to when visiting the Big Apple. 28 October, this year, visitors were treated to another edition of the grand Diwali festival with the square between 46 and 48 the street being transformed into a colourful tapestry of Indian culture NYC Mayor Adams, majority leader Chuck Schumer, director for United States domestic policy, Neera Tanden, and assemblywoman Jenifer Rajkumar lit a diya (lamp) at the famed ball drop tower with family and friends in attendance, symbolising the illumination of the soul and the dispelling of ignorance
Viacom18’s Aapka Colors channel in the US partnered with Event Guru and sponsor Gopi Dairy came on board to people from various backgrounds in the spirit of love, friendship, and togetherness.
The celebration culminated in an electrifying concert which started at 8 pm, featuring renowned artists from Bollywood, headlining the event was Mika Singh, the iconic Bollywood singer, and former American Idol contestant, Shuba. Along with, soul-stirring British Indian classical singer, Shivali. Their performances captivated the audience, making 2023’s Diwali Festival at Times Square an unforgettable experience!
“As a network dedicated to providing quality entertainment, culture, and connectivity to our diverse audience, being associated with Diwali at Times Square aligns perfectly with our core values. This event is a true celebration of the rich traditions and heritage of India, and we are proud to lend our support to such an extraordinary platform,” said IndiaCast Media executive vice-president & head of international business Govind Shahi.
“We are delighted to be associated with the magnificent Diwali at Times Square event along with Gopi Dairy. It is a great honor for Colors TV to be a part of this grand celebration, as it provides us with a unique opportunity to connect with audiences every year and spread the spirit of Diwali,’ added IndiaCast Media senior vice president and business head Americas Sameer Targe.
“Our collaboration with Diwali at Times Square has successfully spanned for the past three years! This year is exceptionally exciting as our client Gopi Dairy, the title sponsor, increases their focus on the East Coast with our 360 media solution that combines ‘ground’, ‘on air’ and ‘digital elements’, all centered around Diwali. We have elevated our partnership with a multi-level sales and marketing initiative responding to the growing demand for integrated media solutions. Our partnership promises to redefine the media engagement and captivate our audience,” said IndiaCast head of sales & marketing Americas Shalaj Dang.
“Gopi Dairy is proud to sponsor ‘Gopi Dairy Diwali at Times Square 2023’, a festival rooted in peace, new beginnings, and the human values of gratitude and humility. At Gopi, we’re honored to have been part of your daily lives for over a decade, delivering pure dairy products from our family to yours. This is an historic moment for us all to celebrate the universal festival of light and joy!” added Karoun Dairies CEO Rostom Baghdassarian.
“The annual Diwali festival in Times Square plays a pivotal role in the western hemisphere as the festival’s significance and fostering a peaceful and harmonious world. During Diwali, people decorate their homes and share sweets and gifts with their friends and loved ones. Our title sponsor, Gopi Dairy, aligns perfectly with the tradition of spreading sweetness and joy,” stated Diwali at Times Square founder Neeta Bhasin.
The event was livestreamed on 28 October and is to now to be telecast on Aapka Colors on 26 November at 1 pm Eastern time and 10 am Pacific Times.
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.
