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\u00a0<\/small><\/div>\n \u2018 The preceding article may include information circulated by third parties \u2019 <\/em><\/p>\n \u2018 Some details of this article were extracted from the following source www.business-standard.com \u2019 <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
By P R Sanjai \u00a0
India\u2019s market regulator 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. \u00a0
The Mumbai-based broadcaster said it will respond formally to the Securities and Exchange […]<\/p>\n","protected":false},"author":2,"featured_media":2290653,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_jetpack_memberships_contains_paid_content":false,"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"footnotes":""},"categories":[25172],"tags":[443814,431138,443813,443815,443816,443817],"class_list":["post-2290652","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-entertainment","tag-sebi-show-cause-notice-zee","tag-sony-pictures-networks-india","tag-zee-entertainment-sebi-notice","tag-zee-fund-diversion-allegations","tag-zee-governance-lapses-probe","tag-zee-sony-merger-fallout"],"jetpack_featured_media_url":"https:\/\/celebrity.land\/en\/wp-content\/uploads\/2026\/02\/Sebi-pursues-fund-diversion-allegations-against-Zee-Entertainment-Markets.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/posts\/2290652","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/comments?post=2290652"}],"version-history":[{"count":1,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/posts\/2290652\/revisions"}],"predecessor-version":[{"id":2290654,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/posts\/2290652\/revisions\/2290654"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/media\/2290653"}],"wp:attachment":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/media?parent=2290652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/categories?post=2290652"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/tags?post=2290652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n\tBy P R Sanjai<\/strong><\/p>\n
\n\tIndia\u2019s market regulator 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.<\/p>\n
\n\tThe Mumbai-based broadcaster said it will respond formally to the Securities and Exchange Board of India. The Economic Times earlier reported the notice targets both the company, and its chairman and chief executive officer, following a multi-year probe into Zee\u2019s internal financial dealings.<\/p>\n
\n\t\u201cThe company has received a show-cause notice from SEBI pertaining to certain allegations made in 2019 by vested interests,\u201d a Zee spokesperson said in an emailed statement. \u201cSEBI initiated an investigation which was unduly prolonged.\u201d<\/p>\n
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\n\tThe regulatory scrutiny was a key obstacle to Zee\u2019s merger with Sony, which was abandoned in January 2024 after two years of legal disputes. Zee said the probe disrupted strategic plans, including the merger, causing significant losses to shareholders.<\/p>\n
\n\tThe company reiterated that it refutes all allegations against itself and the members of its board, stressing its commitment to the \u201chighest standards of governance\u201d and readiness to pursue legal remedies.<\/p>\n
\n\tAs a standalone broadcaster, Zee now faces a shifting media landscape dominated by the joint venture between Walt Disney Co. and Reliance Industries Ltd\u2019s Viacom 18 Media Pvt., which hold a commanding share of cricket broadcasting rights.\u00a0<\/p>\n