ZEE Entertainment Clears the Air: Investigation Finds No Fault

An independent investigation by ZEE Entertainment's Board found no adverse activities within the company. Led by Justice Satish Chandra, the committee reviewed allegations and advised settling the pending adjudication with SEBI. ZEE board urges prompt resolution for stakeholders' benefit.

An independent committee set up by the Board of Directors of ZEE Entertainment Enterprises Ltd submitted its investigative report on Wednesday.

The report, as per ZEEL's official statement, cited no adverse activities within the company's operations, and was corroborated by the Chairman of the independent committee.

The board initiated this investigation in February to address allegations presented by the Securities and Exchange Board of India (SEBI) and other entities. Chaired by Justice Satish Chandra, former Judge of the High Court of Allahabad, along with two independent ZEEL directors and the Chairman of the Nomination and Remuneration Committee, the panel affirmed its complete cooperation with regulatory bodies.

ZEEL stated the committee observed no necessity for further company action, advising the board to settle ongoing adjudication with SEBI promptly for the welfare of shareholders and stakeholders.

(With inputs from agencies.)