Zee Entertainment denies report of fund diversion

New Delhi, Feb 21 (IANS) Zee Entertainment Enterprises said on Wednesday that the company is not aware of any order wherein SEBI has recorded any finding.

“As disclosed in the company’s statement of unaudited standalone financial results for the quarter and nine months ended December 31, 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,” Zee Entertainment said.

“We wish to clarify that the company is not aware of any information that has not been announced to the exchanges which could explain the aforesaid movement in the trading, and we are not able to determine the material impact of the above-mentioned article on the company,” it said.

Zee Entertainment was clarifying on report of a SEBI finding of a fund diversion at Zee Entertainment.

Zee shares are down 13 per cent at Rs 167.90. On Tuesday, Zee Entertainment denied any talks with Sony for a revival of the merger.