SEBI pursues fund diversion allegations against Zee

The Securities and Exchange Board of India (SEBI) has issued a show-cause notice to Zee Entertainment Enterprises Ltd. and its leadership, reviving allegations of fund diversion and governance lapses that derailed its planned merger Sony Pictures Networks India.The Mumbai-based broadcaster said it will respond formally to the SEBI. “The company has received a show-cause notice from SEBI pertaining to certain allegations made in 2019 by vested interests,” a Zee spokesperson said in an emailed statement. “SE ...