Zee Entertainment Enterprises Ltd (ZEEL) has refuted reports claiming that the Securities and Exchange Board of India (Sebi) found a financial hole of over Rs 2,000 crore in the company’s accounts. ZEEL stated that the reports and rumors regarding accounting issues are “incorrect and false.” The company is cooperating with Sebi and providing all requested comments. In August 2023, Sebi barred Zee founders Subhash Chandra and Punit Goenka from holding executive positions in any listed firm, citing fund diversion for personal benefit. The recent reports have impacted ZEEL’s stock, causing a decline of over 10%. ZEEL is reportedly not considering reviving the collapsed merger with Sony.