(Reuters) - Japan's Sony Group Corp has sent a termination letter to Zee Entertainment Enterprises Ltd, citing its plans to call off the merger between its India unit and the media network, Bloomberg
Directed by Nilesh Krishnaa, ‘Annapoorani’ was released in theatres on 1 December and began streaming on Netflix on 29 December. Co-producers Zee issue apology.
SEBI, in August, had barred Goenka and Subhash Chandra from holding positions in Zee company boards for allegedly diverting company funds to the group's other listed entities and firms.
The board its order had alleged the duo were actively involved in diverting company funds to the group's other listed entities and firms related to founding shareholders.
Report comes day after Sony Pictures Entertainment said it took country's markets regulator's order banning Zee Entertainment CEO from holding board positions 'seriously'.
Zee and Sony Group Corp had earlier announced a merger to create a $10 billion TV enterprise in 2021, with Goenka set to become the merged entity's MD and CEO.
SEBI said in its order that Chandra and Goenka were actively involved in diverting company funds to the group’s other listed entities and firms related to founding shareholders.
The slide can see a possible delay in merger with the local unit of Japan's Sony Group Corp which was initiated to take on the likes of Netflix and Disney in India.
Ever since the Love Is Blind: UK episode dropped, there has been a collective meltdown online over the separation of Pakistan-origin Kal Pasha and Indian-origin Sarover Kaur Aujla.
ED has accused Amtek promoter Arvind Dham of controlling web of nearly 500 shell companies operating as a layered structure, with up to 15 levels of indirect ownership, to divert funds.
Bengaluru-based CeNS designs accurate, portable, and cheap sensor using surface-enhanced Raman spectroscopy. It could significantly reduce risks at vulnerable choke points.
From Munir’s point of view, a few bumps here and there is par for the course. He isn’t going to drive his dumper truck to its doom. He wants to use it as a weapon.
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