(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.
Piyush was about celebration—of life, of people, of stories. He believed that what we create can shape popular culture, can make people feel proud of who they are.
Rosneft, the Russian state-owned oil behemoth, has large interests in India. Reliance has a contract to purchase 500,000 barrels of crude per day from the firm.
Fresh details of operation conducted by IAF, Army have come out in gazette notification giving citations of those who were awarded Vir Chakra for their bravery.
Education, reservations, govt jobs are meant to bring equality and dignity. That we are a long way from that is evident in the shoe thrown at the CJI and the suicide of Haryana IPS officer. The film Homebound has a lesson too.
COMMENTS