SEBI accuses Zee Entertainment of financial misconduct, issues show-cause notice
Business
SEBI has sent a show-cause notice to Zee Entertainment and its top bosses, accusing them of moving company funds through Yes Bank to pay off Essel Group loans.
Zee refuted the allegations and plans to fight back with a detailed response.
The notice's implications could be significant
This isn't just paperwork—SEBI's notice revives old concerns that once delayed the big Zee-Sony merger, which was abandoned in January 2024.
The spotlight is now on how Zee handles its finances and disclosures, with experts criticizing the company for not being fully transparent.
Meanwhile, Zee shares showed mixed movement after the news, and the company is gearing up for legal action to defend itself and reassure shareholders.