Subhash Chandra – The News Desk

NEW DELHI: Approaching its deadline, the high-profile media merger in India between Sony's local unit and Zee Entertainment has evolved into a standoff between the Japanese gaming and media giant and the Goenkas, Zee’s founder family.Initially agreeing to have Punit Goenka lead the merged entity, Sony is now reportedly pushing for its own appointee. However, Goenka is holding his ground, and neither side has officially commented on the brewing conflict, a Bloomberg report said.As per reports, Sony is advocating for NP Singh, the managing director of its Indian operations, to lead the merged company.This push comes in light of an ongoing investigation involving Zee's candidate, managing director Punit Goenka.Sony's change in stance comes in the wake of regulatory challenges faced by Punit ...

BENGALURU (Reuters) - Zee Entertainment Enterprises on Monday said it formed an interim committee to run operations after ex-chairman Subhash Chandra and CEO Punit Goenka failed to overturn the market regulator's ban on them holding board positions. The interim committee will be under the supervision of Zee's board, a company spokesperson said. The Securities and Exchange Board of India in June banned Chandra and Goenka from holding board positions in publicly listed companies for a year, alleging they were actively involved in diverting funds to the group's other listed entities and firms related to founding shareholders. Last week, the Security Appellate Tribunal refused to vacate the regulator's decision, saying it did not find any illegality or irrationalit...

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Sony: ‘Zee-Sony India merger talks deadlocked over leadership issue’

Zee Entertainment forms interim committee to run operations; shares up 6.3%