Category: Regulators

  • SAT adjourns ZEEL’s plea to 26 June

    SAT adjourns ZEEL’s plea to 26 June

    Mumbai: The Securities Appellate Tribunal (SAT) has adjourned the hearing of the plea to 26 June by Essel Group chairman Subhash Chandra and Zee Entertainment Enterprises CEO Punit Goenka.

    The duo had filed a plea asking the Sebi order to be set aside. The market regulator had barred the two from holding any directorial or managerial position for a year as an action against the two for siphoning off funds from the listed entity for their own benefit.

    As per media reports, Goenka’s counsel said that the petitioners have appealed against an ex-parte order since the regulator has said it is “curious” but hasn’t “reached a conclusion”.

     

  • SAT directs SEBI to respond Zee petition within 48 hours

    SAT directs SEBI to respond Zee petition within 48 hours

    Mumbai: ZEE has filed a petition challenging the order before the Securities Appellate Tribunal (SAT) after the Securities and Exchange Board of India (SEBI) gave an interim order imposing a ban on ZEE promoters Subhash Chandra and Punit Goenka, preventing them from holding directorial and key managerial roles due to allegations of funds siphoning. ZEE’s counsel mentioned that principles of natural justice hadn’t been followed in the case.

    Following ZEE’s petition, SAT has asked SEBI to file its response within 48 hours.

    According to reports, ZEE contended that SEBI’s order will impact the hearing on its merger deal with Sony before the National Company Law Tribunal (NCLT), which is scheduled for 16 June 2023. The NCLT hearing for the merger will also provide clarity on the exchange reassessment issue.

  • Jio overtakes Airtel in revenue market share in Q4 2023: TRAI data

    Jio overtakes Airtel in revenue market share in Q4 2023: TRAI data

    Mumbai: Reliance Jio has pipped Bharti Airtel in revenue market share (RMS) in the fourth quarter of fiscal year 2023. Jio’s Infocmm’s gross revenue market share shot up by 13 basis points (bps) to 41.7 per cent between January-March 2023 while Airtel’s RMS remained unchanged at 36.5 per cent. Vodafone Idea (vi), the third private telco in the country, lost its RMS by 42 bps to 16.6 per cent, according to data mentioned by the Telecom Regulatory Authority of India (TRAI).

    Jio added 30.5 lakh mobile subscribers in March while Vi lost 12.12 lakh wireless users during the month, according to TRAI. Bharti Airtel onboarded 10.37 lakh mobile subscribers in March, raising its subscriber base to 37.09 crores in March against 36.98 crores in February.

    Reliance Jio added 30.5 lakh subscribers in March, as its subscriber count exceeded 43 crore, compared to 42.71 crore in February.

    Vodafone Idea, which trails Reliance Jio and Bharti Airtel in the mobile market subscriber tally — lost 12.12 lakh mobile users in March. Vodafone Idea’s mobile subscriber base shrunk to 23.67 crore in March, from 23.79 crore in the previous month.

  • Sumanta Bose assumes expanded leadership role as business head for Star Plus and Star Utsav

    Sumanta Bose assumes expanded leadership role as business head for Star Plus and Star Utsav

    Mumbai: Disney Star, an entertainment conglomerate, has announced the expanded role of Sumanta Bose, who has been appointed as the business head for Star Plus and Star Utsav. In a significant development, Sumanta Bose has also been entrusted with the responsibility of leading the content for Disney+ Hotstar Hindi specials, further enhancing Disney Star’s position in the Indian entertainment industry. This strategic move comes as Kevin Vaz, former head of network entertainment channels, decides to pursue an exciting opportunity outside Disney Star. The organisational changes have paved the way for the next generation of leaders to step up and take on larger roles within the company.

    With a remarkable decade-long career in the entertainment industry, Bose possesses a wealth of expertise and a profound understanding of the ever-evolving content landscape. Having previously played a pivotal role within the organisation, Sumanta Bose is exceptionally well-prepared to lead Star Plus and Star Utsav into an era defined by unprecedented growth and innovation.

    Reporting directly to Disney+Hotstar Content Studio & TV head Gaurav Banerjee, Bose will leverage his expertise to propel the success of Star Plus and Star Utsav. Additionally, he will assume the responsibility of leading content development for Star Plus, Star Jalsha, and Disney+Hotstar Hindi Specials, further solidifying Disney+Hotstar’s position as a dominant player in the Indian entertainment industry. In his new role, Bose will play a pivotal role in shaping the content strategy, driving innovation, and fostering creative excellence across Star Plus, Star Utsav, Star Jalsha, and Disney+Hotstar Hindi Specials. His exemplary leadership skills, combined with his extensive experience in the industry, will enable him to navigate the evolving media landscape and deliver compelling content that resonates with audiences.

    Bose will report directly to Banerjee, while also maintaining an additional line of reporting to Disney+Hotstar head Sajith Sivanandan. This collaborative reporting structure will foster synergy across platforms and ensure a seamless integration of content offerings, thereby maximising the audience’s entertainment experience. With Bose at the helm, Disney Star is poised to reinforce its position as a trailblazer in the entertainment industry, delivering captivating content to millions of viewers across various platforms.

  • “The Board is currently in the process of reviewing the detailed order”: ZEEL chairman R Gopalan

    “The Board is currently in the process of reviewing the detailed order”: ZEEL chairman R Gopalan

    Mumbai: ZEE Entertainment Enterprises Ltd. chairman R Gopalan has issued an official statement regarding SEBI order that has passed an interim order against Essel group chief Subhash Chandra and ZEE Entertainment Enterprises Ltd. managing director & CEO Punit Goenka. The order states that they cease to hold any directorial positions in any of the listed companies or its subsidiaries until further orders.

    The statement said, “The Board of Directors of Zee Entertainment Enterprises Ltd. (ZEEL) has noted the interim ex-parte order issued by the Securities and Exchange Board of India (SEBI), with respect to Dr. Subhash Chandra and Mr. Punit Goenka.

    The Board is currently in the process of reviewing the detailed order, and appropriate legal advice is being sought in order to take the next steps as required.

    With a singular focus on enhancing the shareholder value year after year, the Board of the Company has continued to guide the management towards its strategic goals and priorities for the future. All the appropriate steps will be actioned as necessary, in order to ensure that the interest of the Company and all its valuable shareholders is kept at the forefront.

    The Board recognises the significant contribution made by Dr. Subhash Chandra as the founder of the Company and the growth and value generation centric leadership showcased by Mr. Punit Goenka. The Board is confident that the Company will continue to achieve the set goals for the future and most above, create value for all stakeholders.”

  • SEBI bans Subhash Chandra and Puneet Goenka from holding key positions

    SEBI bans Subhash Chandra and Puneet Goenka from holding key positions

    Mumbai: The Securities and Exchange Board of India (SEBI) in an unprecedented action has passed an interim order against Subhash Chandra chief of Essel group and Punit Goenka, managing director & CEO of ZEE Entertainment Enterprises Ltd (ZEE) . The order states that they cease to hold any directorial positions in any of the listed companies or its subsidiaries until further orders.

    An objection can be filed within 21 days and this SEBI order will be placed before the board within 7 days.

    The capital market regulator has alleged that Chandra and Goenka as Directors abused their positions and siphoned off funds. The promoter family is only holding 3.99 per cent shares in Zee, Subhash Chandra and Punit Goenka continue to be at the helm of affairs of Zee.

    In a 16-page order, Ashwani Bhatia, whole time member of SEBI said, “Considering the above, I am of the opinion that, while the investigation is still underway, their continuation as a director/KMP in any listed company or its subsidiaries is likely to be prejudicial to the interest of those companies, particularly its investors.’’

    ‘’Therefore, I am convinced that, pending completion of investigation by Sebi, interim directions need to be issued to safeguard the management of such companies and protect their investors and other stakeholders.”

  • Britannia Marie collabs with GroupM’s Motion Content Group and Mindshare India

    Britannia Marie collabs with GroupM’s Motion Content Group and Mindshare India

    Mumbai: GroupM’s Motion Content Group and Mindshare India, in partnership with Britannia Marie Gold is excited to announce Britannia Marie Gold My StartUp show Dhonni Meyer Upakkhan. The show aims to encourage enterprising women who have great ideas but lack the expertise or wherewithal to get started. It is currently being aired on the weekends on  Star Jalsha 5-5:30 pm.

    Celebrity film star Parambrata Chatterjee will host the show, which includes a jury consisting of Senco Jewellers director Joita Sen, Key Seth Aromatics CEO Keya Seth, Sree leathers director Rochita Dey and a couple of guest entrepreneurs. The show highlights inspiring stories and expert advice, providing a valuable resource for women looking to start their own businesses. Viewers can tune in to Star Jalsha to watch the exciting journey of 50 women entrepreneurs as they pitch their innovative business ideas to an esteemed panel of experts from various industries.

    Mindshare South Asia CEO Amin Lakhani said, “We are proud to partner with Britannia Marie  Gold and Motion Content Group to bring India’s first Only Women Entrepreneurs Show to television. This unique initiative aligns with our commitment to promoting diversity, innovation,  and entrepreneurship in India. We are excited to witness the journey of these talented women  entrepreneurs and provide them with a national platform to showcase their ideas and inspire  others.”

    GroupM – India president – investments, trading, and partnerships Ashwin Padmanabhan said, “We are thrilled to announce the launch of Britannia Marie Gold My StartUp Show Dhonni Meyer Upakkhan with Britannia Marie Gold as its Title sponsor. This show is a celebration of the unstoppable spirit of aspiring women entrepreneurs, fuelled by the passion to grow their businesses. This ground-breaking television initiative not only provides a valuable platform for  women entrepreneurs to showcase their talents but also inspires the next generation of female  business leaders in India.”

    Britannia Marie Gold, known for its support of women’s empowerment initiatives, is all set to bring its startup campaign for homemakers to television. The initiative, which has successfully supported over 40 startups led by homemakers across the country since its inception in 2018,  has now created a special segment to acknowledge the entrepreneurial talent hidden among homemakers in West Bengal. The show will witness startup ideas getting acknowledged by an esteemed panel of jury members, who will provide guidance and support to the budding entrepreneurs. For the first time, viewers can witness the journey of homemakers turning into successful entrepreneurs, as they showcase their innovative business ideas on national television.

  • Taboola’s Readership Insights for May 2023 are led by the IPL Finals, the Cannes Film Festival, and the Met Gala

    Taboola’s Readership Insights for May 2023 are led by the IPL Finals, the Cannes Film Festival, and the Met Gala

    Mumbai: Taboola, a global leader in powering recommendations for the open web, helping people discover things they may like, today released the readership insights for May 2023. Taboola Newsroom uses Topic Insights to analyze real-time audience data to identify some of the intriguing and popular themes that engaged Indian readers throughout the month.

    The surge in pageview traffic revealed insights into the diverse interests of Indian audiences in content across sports, and entertainment. Here are some of the key insights revealed from the readership trends for May 2023:

    1. Sports:

    The Indian Premier League (IPL) is one of the most popular cricket leagues in the world, and the finals are always a huge event. This year’s finals were no exception, with millions of Indians tuning in to watch the match. The excitement for the finals was palpable across the country. In Bangalore, where the match was held, fans were camping outside the stadium for days in anticipation. There was a festive atmosphere in the city, with people wearing team colors and cheering for their favorite teams. The IPL finals are not just a sporting event, they are also a cultural phenomenon as they bring together people from all walks of life and create a sense of national unity. For many Indians, the IPL finals are the highlight of the year.

    The Taboola Newsroom also witnessed a surge in readership, with a 424 per cent increase in people reading the key highlights of the finals between Chennai Super Kings and Gujarat Titans. This is a testament to the popularity of the IPL and the reach of Taboola’s platform during key sporting events, when netizens flock to the open web to read articles about their favorite teams.

    2. Entertainment:

    Cannes Film Festival 2023: Sara Ali Khan, a Bollywood actress, made her Cannes Film Festival début on May 17, 2023. She looked lovely in a black-and-white saree-style costume made by Abu Jani and Sandeep Khosla. The costume, which included a bralette blouse and a trailing skirt, was a success with both fans and fashion critics. Khan’s costume was complimented for its contemporary spin on traditional Indian attire. The trailing skirt was a modern interpretation of a traditional Indian dress. Many people complimented Khan for her daring decision to wear a modern interpretation of traditional Indian design, which was perceived as an indication of the growing global appeal of Indian fashion and resulted in a 277 per cent increase in pageviews on Taboola’s newsroom compared to the last 45 days

    Met Gala 2023: Indian movie star Alia Bhatt is one of the most popular actresses in India. She has a large following on social media and is known for her fashion sense. When she attended the Met Gala 2023, she turned heads in a custom-made gown by Ralph Lauren. The gown was made of white silk and a voluminous skirt and was accessorized with a diamond necklace and earrings. The news of Bhatt’s Met Gala outfit was widely shared on social media and news websites. Taboola, a native advertising platform, was able to capitalize on this interest by publishing a number of articles about Bhatt’s outfit. These articles were seen by millions of people, which led to a significant 100 per cent increase in readership on Taboola’s newsroom

    Netizens in India avidly follow the latest news about their favorite actresses on major news websites, especially during major international galas and film festivals. This presents a valuable opportunity for brands to reach a wide audience and ensure that their advertisements are prominently displayed during these highly anticipated events.

  • Broadband India Forum welcomes Shivnath Thukral as vice president

    Broadband India Forum welcomes Shivnath Thukral as vice president

    Mumbai: Broadband India Forum (BIF), an independent policy forum and think-tank committed to the development and enhancement of the entire broadband ecosystem in India, is delighted to announce the appointment of Shivnath Thukral, Director and Head of Public Policy at Meta, as its new Vice President. With his extensive experience and expertise in public policy, Thukral will play a pivotal role in driving BIF’s mission to promote high-quality broadband connectivity across the country.

    Announcing the new vice president of BIF, Broadband India Forum T.V. Ramachandran said, “With his extensive experience and skills in various projects and assignments, we are confident that he will bring valuable contributions to BIF’s growth and success and take it to the next level of excellence.”

    The senior leadership team of BIF now comprises:

    1.   Aruna Sundararajan IAS (Retd.), former secretary (Telecom), department of telecommunications, as chairperson;

    2.   Ramachandran, CEO & founder, advisory@TVR, as president; 

    3.   Ashwani Rana, chief public policy officer, India, Zupee, as vice president; 

    4.   Shivnath Thukral, director & head public policy, India, Meta, also as vice president;

    5.   Dr. Satya N Gupta, chairman of Board, Bluetown India and BIMSTEC, South Asia, as treasurer.

    Broadband India Forum remains steadfast in its commitment to promoting a comprehensive broadband ecosystem in India. The forum looks forward to leveraging Thukral’s expertise to collaborate with stakeholders, advocate for favorable policies, and bridge the digital divide.

  • Digitoonz & Shemaroo partner to distribute ATCHOO! S2

    Digitoonz & Shemaroo partner to distribute ATCHOO! S2

    Mumbai: Digitoonz, one of the largest animation studios in Asia, has announced a licensing deal with Shemaroo, one of India’s leading media and entertainment players, for the animation series ATCHOO! S2. It is an Italian-Indian animated television series produced by Studio Campedelli & Cartobaleno and co-produced by Digitoonz. The new season of this series comprises 52 episodes of 11 minutes each. This partnership will enable Shemaroo to obtain distribution rights for ATCHOO! season two.

    ATCHOO! is an entertaining series about a little boy named Teo who has this unusual physical disorder. He sneezes whenever he is caught in an emotional situation and then he turns into an animal. And when Teo regains his consciousness, he continues to have some animalistic traits. The series aims to edutain children with a fun and unique learning experience while also instilling valuable life lessons.

    Digitoonz CEO Vikas Kumar expressed his excitement about the licensing deal, stating, “We have a very strong partnership with Shemaroo Entertainment, and we are very excited about this distribution deal.”

    Shemaroo Sr. vice president – animation, kids digital, L&M – Smita Maroo said on the partnership, “We are happy to partner with Digitoonz for ATCHOO! S2. The series is entertaining as well as educational. We look forward to continuing our partnership with Digitoonz and bringing top-quality content to our global viewers.”

    The partnership with Shemaroo is a significant milestone for Digitoonz as it will allow the studio to expand its reach and provide high-quality animated content globally. Digitoonz operates from three locations, including Noida (Delhi NCR), Kolkata, and Connecticut (USA). The studio comprises a team of 600 artists specialised in 2D -3D animation and VFX.