Star India was to license TV broadcasting rights for ICC events to Zee for 4 years, starting this year. Zee, however, quit $1.4 bn deal after missing its first $200 mn payment.
Securities and Exchange Board of India said that Zee group promoters Subhash Chandra and Punit Goenka were involved in diverting company funds to the group's related entities.
In an order Friday, the I&B ministry said Zee accessed DD Free Dish’s vast audiences without paying necessary auction fees. This comes after competitors raised the issue with govt.
Sony will own a 50.86% stake in the merged entity while Zee founders will own 3.99%. The merger will help expand Sony's media business in India where Zee commands 17% of the market.
Indian business landscape favours firms that are either substantially owned by a family, or controlled by a multinational. To come out ahead, Invesco might need to tweak its tactics.
Sony is merging with Zee. It will control the larger empire & infuse an additional $1.4 bn of cash into it. But the combined entity will be presided over by Punit Goenka, Chandra’s son.
Move came after Zee shareholders sought removal of key officials. However, Zee CEO Punit Goenka, whose removal was sought, will lead the merged entity.
Unsecured loans have been a concern for RBI for a while now. Last year, it took steps to make it more expensive for banks, NBFCs to give them out in bid to deter such borrowing.
Corps commanders signed an agreement on 21 October to pull back troops from eastern Ladakh’s two face-off points, following efforts on diplomatic front to ease tensions along LAC.
Congress is silently acknowledging it over-read verdict of last general election. You can see it in easy concession to SP. It will likely be more reasonable in Maharashtra & Jharkhand.
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