Siti Cable and Dish TV arrears to be cleared over 12 and 24 months: Punit Goenka

According to reports, ZEEL has hired third party analysts to look into the finances of the two companies

e4m by exchange4media Staff
Updated: Jan 23, 2020 5:58 PM


Punit Goenka

It has been reported that Punit Goenka will remain the Managing Director and CEO of  Zee Entertainment Enterprises (ZEEL), a move aimed at allaying investor concerns about management continuity after the company posted muted results for Q3 FY20.

However, according to reports Goenka's remuneration is being reviewed by the board after the promoter ownership has come down 5 per cent during the quarter. 

Media reports quote Goenka who said that ZEEL had analysed due recoverability from Siti Cable and Dish TV.  As per the plan, the arrears will be cleared over 12 and 24 months. ZEEL has reportedly hired third party analysts to look into the finances of the two companies. 

Also Read: Essel Group seeks to sell up to 16.5% stake in ZEEL to financial investors

ZEEL Founder and former Chairman Subhash Chandra, who stepped down from his position in November will continue to be on board as a non-executive Director.

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