Top Story

e4m_logo.png

Home >> International >> Article

Promoters to repay Rs 90 crores to Zee soon

02-October-2001
Font Size   16
Share
Promoters to repay Rs 90 crores to Zee soon

Essel group chairman Subhash Chandra has promised shareholders of Zee Telefilms that the promoter group will return the balance Rs 90 crores out of Rs 220 crores borrowed earlier from the media company within next 30 days. The promoter group, which had borrowed the amount to fund stake acquisitions in B4U and AB Corp, had earlier promised to pay up the amount by June 30 but had missed the deadline.

In the last two months, the promoters have sold about 1.5 per cent stake in Zee Telefilms twice to raise around Rs 70 crores which was in turn paid back to the media company.

The Essel group using the borrowed funds, were planning to pick up around 28.5 per cent in AB Corp and another 15 per cent in B4U from stock broker Ketan Parekh. However, the deal did not materialise and now the Essel group promoters have dragged Parekh to court for recovering amount lent to him.

Tags

The group released the Little Hearts online-only campaign, #BreakSomeHearts, early this year and is on the path to make many more of its brands available on the digital platform

As Milind Pathak takes over as Managing Director - Southeast Asia, Httpool, we chat with him on his new role, aspirations and his plans to aggressively penetrate the operations of the group in the Southeast Asian market

We speak to Punit Misra, CEO, ZEEL, Domestic Broadcast Business, on Zee TV’s new look, its aim and the shaping up of domestic business

This exercise will take the channel to the next level: Siju Prabhakaran, Cluster Head – South Business, Zee Entertainment Enterprises Limited

As Milind Pathak takes over as Managing Director - Southeast Asia, Httpool, we chat with him on his new role, aspirations and his plans to aggressively penetrate the operations of the group in the Sou...

Though business has picked up, the private FM industry expects festive ad spends to be subdued compared to 2016

Of the 116 upheld ads, the majority belonged to healthcare and education