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 ...

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 ...