Wednesday, 13 Aug 2025
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
logo logo
  • World
  • Politics
  • Crime
  • Economy
  • Tech & Science
  • Sports
  • Entertainment
  • More
    • Education
    • Celebrities
    • Culture and Arts
    • Environment
    • Health and Wellness
    • Lifestyle
  • 🔥
  • Trump
  • House
  • VIDEO
  • ScienceAlert
  • White
  • Trumps
  • Watch
  • man
  • Health
  • Season
Font ResizerAa
American FocusAmerican Focus
Search
  • World
  • Politics
  • Crime
  • Economy
  • Tech & Science
  • Sports
  • Entertainment
  • More
    • Education
    • Celebrities
    • Culture and Arts
    • Environment
    • Health and Wellness
    • Lifestyle
Follow US
© 2024 americanfocus.online – All Rights Reserved.
American Focus > Blog > Entertainment > Zee Chief Accuses Indian Regulatory Board of Sinking Sony Merger
Entertainment

Zee Chief Accuses Indian Regulatory Board of Sinking Sony Merger

Last updated: September 3, 2024 2:18 am
Share
Zee Chief Accuses Indian Regulatory Board of Sinking Sony Merger
SHARE

Subhash Chandra, the chairman emeritus of Zee Entertainment Enterprises Ltd (ZEEL), has made serious allegations against Madhabi Puri Buch, the chair of the Securities and Exchange Board of India (SEBI), accusing her of sabotaging the proposed Sony-ZEEL merger.

During a press conference held recently, Chandra did not mince words as he labelled Buch as “corrupt” and “vindictive”, blaming Zee’s issues with SEBI as the primary reason behind the collapse of the merger deal.

The controversy between ZEEL and SEBI dates back to June 2023 when SEBI imposed a ban on ZEEL MD-CEO Punit Goenka and Chandra from holding any managerial or directorial positions in listed companies. The suspension was a result of ongoing investigations into alleged insider trading activities, with SEBI mentioning concerns about fund siphoning. However, in November, the Securities and Appellate Tribunal (SAT) overturned SEBI’s order, with Chandra expressing his frustration by stating, “They set aside everything. If you read the order, they are stopped short of saying that there is total prejudice against this group.”

The merger between ZEEL and Sony was called off in January of the following year. Subsequently, a Bloomberg report in February raised questions about a $241 million discrepancy in ZEEL’s accounts, leading to the founders being summoned for interrogation. ZEEL promptly denied these reports, dismissing them as unfounded and inaccurate.

Chandra revealed that he had written to India’s finance minister, Nirmala Sitharaman, raising concerns about Buch’s alleged interference in the Zee-Sony merger, but received no response. In response to the ongoing SEBI investigation, Chandra declared his intention to pursue legal action, citing his refusal to cooperate with what he perceives as a biased and corrupt individual.

See also  Amanda Knox Hulu Series Adds Four to Cast

These allegations against Buch come amidst previous accusations by the opposition party Congress, claiming that Buch holds a paid position at ICICI Bank and has received substantial benefits from the bank and its subsidiaries.

Chandra’s strong statement following the press conference expressed his disappointment with SEBI’s handling of the ZEE Entertainment case, accusing the regulatory body of acting against the best interests of the company’s investors and causing significant financial losses due to the failed merger.

In light of these developments, Chandra announced his decision not to cooperate further with SEBI on a personal level and urged Zee Entertainment to follow suit, denouncing the ongoing investigation as biased and predetermined by the SEBI chairperson.

TAGGED:AccusesBoardchiefIndianMergerRegulatorySinkingSonyZee
Share This Article
Twitter Email Copy Link Print
Previous Article ‘Entourage’ Star Jerry Ferrara Wants Jalen Brunson On New Podcast W/ Matt Leinart ‘Entourage’ Star Jerry Ferrara Wants Jalen Brunson On New Podcast W/ Matt Leinart
Next Article Who ate the pregnant porbeagle shark? Who ate the pregnant porbeagle shark?
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular Posts

Madrid Open 2025: TV schedule, start time, order of play and live streaming details

The Madrid Open 2025 is in full swing, with Day 9 set to feature some…

April 29, 2025

Amazon partnering with Intuit Quickbooks for third-party sellers

Amazon and Intuit Partner to Provide Online Accounting Tools for Sellers Amazon has long relied…

December 9, 2024

Over 80% Of Adults In The U.S. Experience Loneliness, Study Finds

Loneliness Epidemic: New Study Reveals Alarming Statistics A recent study conducted on nearly 50,000 individuals…

July 16, 2025

Trump’s 43-Foot Naked Statue Sparks Outrage — Is He Ready to Sue?

A massive 43-foot naked statue of former President Donald Trump recently made headlines when it…

October 1, 2024

How to Download the Android 16 Beta Now

Android 16 is the latest version of the Android operating system, set to be officially…

June 9, 2025

You Might Also Like

Streaming Platform Zeam Acquires NewsOn From Sinclair Broadcast Group
Entertainment

Streaming Platform Zeam Acquires NewsOn From Sinclair Broadcast Group

August 12, 2025
Danielle Spencer Dead: What’s Happening Child Star Was 60
Entertainment

Danielle Spencer Dead: What’s Happening Child Star Was 60

August 12, 2025
4.4 Million Views, Disney Record
Entertainment

4.4 Million Views, Disney Record

August 12, 2025
‘Breaking Bad’ Home Owner Wants It to Be Turned Into Museum, Sticks by M Price
Entertainment

‘Breaking Bad’ Home Owner Wants It to Be Turned Into Museum, Sticks by $4M Price

August 12, 2025
logo logo
Facebook Twitter Youtube

About US


Explore global affairs, political insights, and linguistic origins. Stay informed with our comprehensive coverage of world news, politics, and Lifestyle.

Top Categories
  • Crime
  • Environment
  • Sports
  • Tech and Science
Usefull Links
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA

© 2024 americanfocus.online –  All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?