SEBI issued show-cause notice to Zee on alleged fund diversion case

Zee Entertainment has received a show-cause notice from the Securities and Exchange Board of India (SEBI) regarding an ongoing 2019 case alleging fund diversion and governance lapses that derailed Zee’s planned merger with Sony Pictures Networks India.While the company said it will file an appropriate reply to SEBI, Zee said the prolonged investigation by the regulatory body over the years has hurt its strategic moves.“ This investigation has derailed certain strategic steps planned by the company, includin ...