The Securities and Exchange Board of India (Sebi) has reportedly uncovered a larger-than-expected financial gap of over $240 million in the accounts of Zee Entertainment Enterprises. As part of its investigation into Zee’s founders, including Subhash Chandra and Punit Goenka, Sebi found evidence suggesting around Rs 2,000 crore ($241 million) may have been diverted from the company. This revelation comes amid Zee’s efforts to salvage its reputation and business after the collapse of its $10 billion merger with Sony Group Corp’s local unit. Zee is currently engaging with Sony to explore the possibility of reviving the deal, but major differences persist.
Zee Entertainment Faces $240 Million Hole in Accounts as Regulatory Probe Deepens
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