ZEEL rejects media reports about funds divergence issue of Rs 2,000 crore

Zee Entertainment Enterprises (ZEEL) has provided clarification regarding media reports suggesting that the Securities and Exchange Board of India (SEBI), the regulatory body for securities and commodity markets in India, has identified a financial discrepancy of approximately Rs 2,000 crore in Zee Entertainment's accounts.

Zee Entertainment Enterprises refuted the allegations made by several publications as baseless and false in an exchange filing submitted to both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).

In its filing, the company said, “We would like to clarify that the above-mentioned news items and rumours pertaining to accounting issues in the Company are incorrect, baseless, and false.”

Zee further added, "As disclosed in the company’s statement of unaudited standalone financial results for the quarter and nine months ended 31 December 2023, published by the company and available on its website, pursuant to the SAT order dated October 30, 2023 granting relief to the current Key Managerial Personnel (KMP) of the company, the company has been in the process of providing all the comments, information or explanation requested by SEBI, and has extended complete co-operation on all aspects."

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