Zee Entertainment Enterprises Ltd (‘Z’)—the country’s leading content and technology powerhouse—said on Sunday it believes that its fund-raising exercise will not be directly impacted by market regulator SEBI’s order barring two of its promoters. The company is seeking legal advice on the order and will take all required steps to successfully complete the fund-raising exercise, aimed at strengthening its financial foundation, said a spokesperson.&nbsp;The SEBI order has no direct bearing on the fund-raising exercise, the spokesperson added.&nbsp;The statement comes two days after shareholders approved the company’s Rs 3,143.5 crore preferential warrant issue and ESOP proposals at the extraordinary general meeting (EGM) held on July 31.&nbsp;&nbsp;Just hours after the shareholder approval, market regulator SEBI issued an order barring promoters Dr Subhash Chandra and Punit Goenka over alleged unauthorised pledge of the company’s Hyderabad land to secure certain promoter-linked loans.“The Company is in receipt of the order issued by the Securities and Exchange Board of India (SEBI) and is seeking advice from legal experts on the same,” the ZEEL spokesperson said.&nbsp;“The Company firmly believes that the order from SEBI has no direct bearing on the fund-raising exercise.”‘Z’ also said that pursuant to regulatory approvals received from the stock exchanges and shareholders at the EGM, it will take all required steps to complete the fund-raising exercise.The development triggered a legal debate over whether the SEBI order could affect the company’s proposed capital raising, with most experts being of the view that the fund raise may not necessarily be derailed.&nbsp;<h2>ZEEL fund raise approval and SEBI ban: What is the matter?</h2>&nbsp;At the recent EGM, ‘Z’ shareholders approved the issue of 24,94,85,563 fully convertible warrants to a promoter group entity on a preferential basis at Rs 126 per warrant.The proposed transaction is likely to bring in around Rs 3,143.5 crore into the company and eventually take the total promoter shareholding to 23.79 per cent.The shareholders also approved the ‘Truly Yours’ Employee Stock Option Plan (ESOP), involving 3,74,22,835 stock options for eligible employees and employees of subsidiary companies.SEBI’s order against two promoters came shortly after the shareholder approvals.&nbsp;<h2>What do legal experts say?&nbsp;</h2>&nbsp;Securities lawyer Chirag Shah said the timing of the SEBI order and ZEEL’s shareholder approval was unusual, but also emphasised that “all the requirements under company law have already been met”.He noted that shareholders had already approved the fund raise overwhelmingly and so ZEEL should approach SEBI for a positive view, highlighting the company’s growth requirements.“In my view, the company should be approaching SEBI” with the point that the resolutions approved at the EGM had already been shared with stock exchanges as required under LODR, Shah said.&nbsp;He said SEBI would take cognisance of the approvals and could possibly provide “some kind of forbearance” to allow the fund raise to proceed.Shah expressed confidence that SAT could consider the matter if immediate relief is required.Pavan Kumar Vijay, founder of Corporate Professionals, said the SEBI order does not automatically end the capital-raising process, though stock exchange approval could pose a hurdle.

‘Z’ said it believes its fund-raising exercise will not be impacted by market regulator SEBI’s order, and following regulatory approvals received from the stock exchanges and shareholders at the EGM, it will take all required steps to complete the fund-raising exercise.

Zee Entertainment Enterprises Ltd (‘Z’)—the country’s leading content and technology powerhouse—said on Sunday it believes that its fund-raising exercise will not be directly impacted by market regulator SEBI’s order barring two of its promoters. The company is seeking legal advice on the order and will take all required steps to successfully complete the fund-raising exercise, aimed at strengthening its financial foundation, said a spokesperson. The SEBI order has no direct bearing on the fund-raising exercise, the spokesperson added. The statement comes two days after shareholders approved the company’s Rs 3,143.5 crore preferential warrant issue and ESOP proposals at the extraordinary general meeting (EGM) held on July 31. Just hours after the shareholder approval, market regulator SEBI issued an order barring promoters Dr Subhash Chandra and Punit Goenka over alleged unauthorised pledge of the company’s Hyderabad land to secure certain promoter-linked loans. “The Company is in receipt of the order issued by the Securities and Exchange Board of India (SEBI) and is seeking advice from legal experts on the same,” the ZEEL spokesperson said. “The Company firmly believes that the order from SEBI has no direct bearing on the fund-raising exercise.” ‘Z’ also said that pursuant to regulatory approvals received from the stock exchanges and shareholders at the EGM, it will take all required steps to complete the fund-raising exercise. The development triggered a legal debate over whether the SEBI order could affect the company’s proposed capital raising, with most experts being of the view that the fund raise may not necessarily be derailed. ZEEL fund raise approval and SEBI ban: What is the matter? At the recent EGM, ‘Z’ shareholders approved the issue of 24,94,85,563 fully convertible warrants to a promoter group entity on a preferential basis at Rs 126 per warrant. The proposed transaction is likely to bring in around Rs 3,143.5 crore into the company and eventually take the total promoter shareholding to 23.79 per cent. The shareholders also approved the ‘Truly Yours’ Employee Stock Option Plan (ESOP), involving 3,74,22,835 stock options for eligible employees and employees of subsidiary companies. SEBI’s order against two promoters came shortly after the shareholder approvals. What do legal experts say? Securities lawyer Chirag Shah said the timing of the SEBI order and ZEEL’s shareholder approval was unusual, but also emphasised that “all the requirements under company law have already been met”. He noted that shareholders had already approved the fund raise overwhelmingly and so ZEEL should approach SEBI for a positive view, highlighting the company’s growth requirements. “In my view, the company should be approaching SEBI” with the point that the resolutions approved at the EGM had already been shared with stock exchanges as required under LODR, Shah said. He said SEBI would take cognisance of the approvals and could possibly provide “some kind of forbearance” to allow the fund raise to proceed. Shah expressed confidence that SAT could consider the matter if immediate relief is required. Pavan Kumar Vijay, founder of Corporate Professionals, said the SEBI order does not automatically end the capital-raising process, though stock exchange approval could pose a hurdle.

‘Z’ said it believes its fund-raising exercise will not be impacted by market regulator SEBI’s order, and following regulatory approvals received from the stock exchanges and shareholders at the EGM, it will take all required steps to complete the fund-raising exercise.

‘Z’ says no direct bearing of SEBI order on Rs 3,143.5 crore fund-raise, will take needed steps to complete exercise

On Tuesday early evening (June 14), the three-day IPL media rights auction, for the 2023-27 cycle,&nbsp;finally came to an end. In deals worth a whopping INR&nbsp;48,390.52 crore, Disney-Star secured the television&nbsp;rights for the Indian subcontinent (i.e. Package A), for a whopping&nbsp;INR 23,575 crore (INR 235.75 billion), whereas Viacom18 fetched the digital rights for the same region (Package B), for INR 20,500 crore (INR 205 billion).

Viacom18 also grabbed the rights for&nbsp;18 exclusive IPL games, including the tournament-opener, final,&nbsp;and&nbsp;evening games during the weekends, i.e. by purchasing Package C in the auction -- for&nbsp;INR 3,273&nbsp;crore (INR 32.73 billion). Lastly, Package D was bought by Viacom18 and Times Internet -- which deals with&nbsp;combined TV and digital rights for&nbsp;the overseas markets. Among the other bidders, Zee&nbsp;Entertainment Enterprises was a strong contender to fetch the rights for Package D, however, it lost to Viacom18 and Times Internet. After the end of the proceedings, Rahul Johri --&nbsp;President, 
Business - ZEE Entertainment Enterprises -- congratulated BCCI for carrying out an efficient and transparent auction.

Official Statement from ZEE-

ZEE would like to congratulate the Board of Control for Cricket in India (BCCI) for running an extremely efficient and transparent e-auction process. We are grateful to the BCCI, President, Mr. Sourav Ganguly, Hon'ble Secretary, Mr. Jay Shah and Hon'ble Treasurer, Mr. Arun Dhumal; for their able leadership and unwavering support in enabling ZEE's participation in the IPL Media Rights tender process. At ZEE, we evaluate all business decisions through the prism of value creation for all our stakeholders and we will continue to evaluate every sports property with the same prism” Mr. Rahul Johri, President, 
Business - ZEE Entertainment Enterprises

ALSO READ |&nbsp;<a href="https://www.wionews.com/sports/ipl-media-rights-auction-disney-star-viacom18-among-winners-as-bcci-earn-unimaginable-amount-488118">IPL media rights auction: Disney Star, Viacom18 among winners as BCCI earns UNIMAGINABLE amount</a>

In an exclusive PTI interaction, BCCI Secretary Jay Shah -- who was over the moon following the huge inflow of cash for the richest cricket board after the end of the media rights auction -- spilled the beans on Women's IPL and also made a huge claim on what the future looks like for men's premier T20 league.&nbsp;

"Let me inform you that from the next ICC FTP calendar, IPL will have an official two-and-a-half month window so that all the top international cricketers can participate. We have had discussions with various boards as well as the ICC," Shah pointed out.

On the much-awaited commencement of the Women's IPL, Shah stated, "This is a project which is very close to my heart. We will start with either five or six teams in the first edition. I am thrilled at the kind of response we have got from stakeholders. Multiple existing IPL teams have enquired and expressed serious interest in owning WIPL franchises.

Not to forget interest from outside. We are in discussions with other Boards about the possible window when all top cricketers will be available. I can promise that the valuation of the league, franchises and media rights will stun one and all," he added.

On Tuesday early evening (June 14), the three-day IPL media rights auction, for the 2023-27 cycle, finally came to an end. In deals worth a whopping INR 48,390.52 crore, Disney-Star secured the television rights for the Indian subcontinent (i.

On Tuesday early evening (June 14), the three-day IPL media rights auction, for the 2023-27 cycle, finally came to an end. In deals worth a whopping INR 48,390.52 crore, Disney-Star secured the television rights for the Indian subcontinent (i.e. Package A), for a whopping INR 23,575 crore (INR 235.75 billion), whereas Viacom18 fetched the digital rights for the same region (Package B), for INR 20,500 crore (INR 205 billion). Viacom18 also grabbed the rights for 18 exclusive IPL games, including the tournament-opener, final, and evening games during the weekends, i.e. by purchasing Package C in the auction -- for INR 3,273 crore (INR 32.73 billion). Lastly, Package D was bought by Viacom18 and Times Internet -- which deals with combined TV and digital rights for the overseas markets. Among the other bidders, Zee Entertainment Enterprises was a strong contender to fetch the rights for Package D, however, it lost to Viacom18 and Times Internet. After the end of the proceedings, Rahul Johri -- President, Business - ZEE Entertainment Enterprises -- congratulated BCCI for carrying out an efficient and transparent auction. Official Statement from ZEE- ZEE would like to congratulate the Board of Control for Cricket in India (BCCI) for running an extremely efficient and transparent e-auction process. We are grateful to the BCCI, President, Mr. Sourav Ganguly, Hon'ble Secretary, Mr. Jay Shah and Hon'ble Treasurer, Mr. Arun Dhumal; for their able leadership and unwavering support in enabling ZEE's participation in the IPL Media Rights tender process. At ZEE, we evaluate all business decisions through the prism of value creation for all our stakeholders and we will continue to evaluate every sports property with the same prism” Mr. Rahul Johri, President, Business - ZEE Entertainment Enterprises ALSO READ | IPL media rights auction: Disney Star, Viacom18 among winners as BCCI earns UNIMAGINABLE amount In an exclusive PTI interaction, BCCI Secretary Jay Shah -- who was over the moon following the huge inflow of cash for the richest cricket board after the end of the media rights auction -- spilled the beans on Women's IPL and also made a huge claim on what the future looks like for men's premier T20 league. "Let me inform you that from the next ICC FTP calendar, IPL will have an official two-and-a-half month window so that all the top international cricketers can participate. We have had discussions with various boards as well as the ICC," Shah pointed out. On the much-awaited commencement of the Women's IPL, Shah stated, "This is a project which is very close to my heart. We will start with either five or six teams in the first edition. I am thrilled at the kind of response we have got from stakeholders. Multiple existing IPL teams have enquired and expressed serious interest in owning WIPL franchises. Not to forget interest from outside. We are in discussions with other Boards about the possible window when all top cricketers will be available. I can promise that the valuation of the league, franchises and media rights will stun one and all," he added.

Zee Entertainment Enterprises releases official statement after 'transparent' IPL media rights auction

Domestic stock market indices ended higher on Thursday, driven by broad-based gains and tracking strength across global equities, after dovish comments by the US.

Federal Reserve Chairman Jerome Powell reignited rate-cut hopes.

The broader <a href="https://www.google.com/url?client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/business-economy/sensex-nifty-open-in-red-why-stock-markets-did-not-like-the-budget-233896&amp;sa=U&amp;ved=2ahUKEwjg2tmm2azjAhXh73MBHbu9BkIQFjACegQIDxAC&amp;usg=AOvVaw3hPhOdGMSP_cejdWntbYVZ">Nifty</a> closed up 0.73% at 11,582.90, while the benchmark <a href="https://www.google.com/url?client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/business-economy/post-budget-sensex-down-over-630-points-pnb-stocks-falls-further-233908&amp;sa=U&amp;ved=2ahUKEwjg2tmm2azjAhXh73MBHbu9BkIQFjABegQIDhAC&amp;usg=AOvVaw2FnU-1_YIp9S9XPsEaCrbF">Sensex</a> settled 0.69% higher at 38,823.11.

Zee Entertainment Enterprises Ltd and JSW Steel Ltd were the top two gainers on the Nifty. Zee closed nearly 8% higher while JSW Steel finished the session 4.86% up.

Domestic stock market indices ended higher on Thursday, driven by broad-based gains and tracking strength across global equities, after dovish comments by the US.

Domestic stock market indices ended higher on Thursday, driven by broad-based gains and tracking strength across global equities, after dovish comments by the US. Federal Reserve Chairman Jerome Powell reignited rate-cut hopes. The broader Nifty closed up 0.73% at 11,582.90, while the benchmark Sensex settled 0.69% higher at 38,823.11. Zee Entertainment Enterprises Ltd and JSW Steel Ltd were the top two gainers on the Nifty. Zee closed nearly 8% higher while JSW Steel finished the session 4.86% up.

Sensex, Nifty close higher as Federal chief rekindles rate-cut hopes

Zee Entertainment Enterprises Ltd which is India&#39;s largest Media Company and No 1 Entertainment Network* has complained to Ministry of Information &amp; Broadcasting vide letter dated 27th February 2018 alleging violation of extant DAS Regulations and breach of license conditions, by DEN Networks Ltd, a national MSO/ its Affiliate(s)/ Joint Venture entity.

It has been learnt from the sources that in the said complaint, ZEEL has furnished various evidences to MIB to show that DEN is supplying signals in an unencrypted and non-addressable mode in DAS notified areas, which is contrary to the licensing conditions and violation of DAS Regulations. In addition, ZEEL has also submitted video recordings to MIB as an evidence to show that DEN is taking channels from a DTH Set Top Box and retransmitting the channels through its Cable Networks in an unencrypted and non-addressable mode.

ZEEL has stated that, this amounts to piracy of channels which is not only an offence under the Copyright Act, 1957 but also specifically prohibited under the Programme Code as provided in Cable Television Network Rules, 1994. Such instances of supply of signals in an unencrypted and non-addressable mode and piracy of channels are in violation of license granted by Ministry of Information &amp; Broadcasting to DEN and the allegations of ZEEL, if found true, may lead to cancellation of license of DEN Network Ltd.

The complaint states that the actions of DEN in transmitting the channels in unencrypted and non-addressable mode &amp; piracy of channels through DTH set top box are not only adversely impacting the Broadcasters but also causing revenue loss to the public exchequer. DEN Network Ltd seems to be in violation of Section 4A of the Cable Television Network Regulation Act 1995 and the terms of license conditions issued by the Ministry of Information &amp; Broadcasting. ZEEL has cited Rule 11(7) of the Cable Television Network Rules, 1994 to assert that for violation of terms and conditions of the license/registration granted by Ministry of Information &amp; Broadcasting, the license of DEN is liable to be cancelled.

In addition to the complaint, ZEEL also commented that DEN is also guilty of short-changing its customers as well as its linked operators; as it has removed all Zee and Turner channels from its monthly packages, but has not reduced the consumer prices of its packages as required under Quality of Service Regulations (DAS). For instance, in Mumbai DEN&rsquo;s Supreme pack was priced at Rs. 343 (incl. taxes) prior to packaging change in which DEN was providing 388 channels. Post change in packaging, DEN has removed 147 channels, whereas the price of the package remains same. This has caused huge amount of angst amongst its consumers, who have been complaining to DEN Call Centre and asking for refund. DEN has been reluctant to offer the Zee channels being demanded by the consumers.

Various linked operator groups have been holding demonstrations in front of Authorities regarding DEN&rsquo;s high-handedness over not providing Zee bouquet of channels despite charging the same amount to the consumers. In a particular case, LCOs from Karnataka have also complained to the Nodal Officer on 22nd February 2018, over supply of poor quality of Set Top Boxes and sudden deliberate disconnections of TV channels by DEN without notice.

As per ZEEL, it is unfortunate that on one hand Government has declared successful digitisation in entire country, while on the other even some large MSOs continue to blatantly violate DAS Regulations. Thus, this is not only mockery of Law of the Land, but also a huge detriment to the ecosystem if few MSOs continue to do piracy. Digitization can only be implemented in the true spirit if strict actions are taken against errant operators.

*Source: BARC, All India (U+R), 2+, Market Share %, YTD FY&#39;18 average (Wk 14&#39;17 to Wk 7&#39;18)

&nbsp;

Zee Entertainment Enterprises Ltd which is India's largest Media Company and No 1 Entertainment Network1 has complained to Ministry of Information & Broadcasting vide letter dated 27th February 2018 alleging violation of extant DAS Regulations and breach of license conditions, by DEN Networks Ltd.

Zee Entertainment Enterprises Ltd which is India's largest Media Company and No 1 Entertainment Network* has complained to Ministry of Information & Broadcasting vide letter dated 27th February 2018 alleging violation of extant DAS Regulations and breach of license conditions, by DEN Networks Ltd, a national MSO/ its Affiliate(s)/ Joint Venture entity. It has been learnt from the sources that in the said complaint, ZEEL has furnished various evidences to MIB to show that DEN is supplying signals in an unencrypted and non-addressable mode in DAS notified areas, which is contrary to the licensing conditions and violation of DAS Regulations. In addition, ZEEL has also submitted video recordings to MIB as an evidence to show that DEN is taking channels from a DTH Set Top Box and retransmitting the channels through its Cable Networks in an unencrypted and non-addressable mode. ZEEL has stated that, this amounts to piracy of channels which is not only an offence under the Copyright Act, 1957 but also specifically prohibited under the Programme Code as provided in Cable Television Network Rules, 1994. Such instances of supply of signals in an unencrypted and non-addressable mode and piracy of channels are in violation of license granted by Ministry of Information & Broadcasting to DEN and the allegations of ZEEL, if found true, may lead to cancellation of license of DEN Network Ltd. The complaint states that the actions of DEN in transmitting the channels in unencrypted and non-addressable mode & piracy of channels through DTH set top box are not only adversely impacting the Broadcasters but also causing revenue loss to the public exchequer. DEN Network Ltd seems to be in violation of Section 4A of the Cable Television Network Regulation Act 1995 and the terms of license conditions issued by the Ministry of Information & Broadcasting. ZEEL has cited Rule 11(7) of the Cable Television Network Rules, 1994 to assert that for violation of terms and conditions of the license/registration granted by Ministry of Information & Broadcasting, the license of DEN is liable to be cancelled. In addition to the complaint, ZEEL also commented that DEN is also guilty of short-changing its customers as well as its linked operators; as it has removed all Zee and Turner channels from its monthly packages, but has not reduced the consumer prices of its packages as required under Quality of Service Regulations (DAS). For instance, in Mumbai DEN’s Supreme pack was priced at Rs. 343 (incl. taxes) prior to packaging change in which DEN was providing 388 channels. Post change in packaging, DEN has removed 147 channels, whereas the price of the package remains same. This has caused huge amount of angst amongst its consumers, who have been complaining to DEN Call Centre and asking for refund. DEN has been reluctant to offer the Zee channels being demanded by the consumers. Various linked operator groups have been holding demonstrations in front of Authorities regarding DEN’s high-handedness over not providing Zee bouquet of channels despite charging the same amount to the consumers. In a particular case, LCOs from Karnataka have also complained to the Nodal Officer on 22nd February 2018, over supply of poor quality of Set Top Boxes and sudden deliberate disconnections of TV channels by DEN without notice. As per ZEEL, it is unfortunate that on one hand Government has declared successful digitisation in entire country, while on the other even some large MSOs continue to blatantly violate DAS Regulations. Thus, this is not only mockery of Law of the Land, but also a huge detriment to the ecosystem if few MSOs continue to do piracy. Digitization can only be implemented in the true spirit if strict actions are taken against errant operators. *Source: BARC, All India (U+R), 2+, Market Share %, YTD FY'18 average (Wk 14'17 to Wk 7'18)

Zee complains to I&B Ministry against DEN Networks, seeks cancellation of DAS license