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India’s Zee Appoints Advisory Committee to Curb ‘Misinformation’ and ‘Erosion of Investor Wealth’ After Reports of Financial Irregularity
Indian media giant Zee is setting up an advisory committee in the wake of recent allegations about its financial transactions.
Indian media giant Zee Entertainment Enterprises Limited (ZEEL) is setting up an advisory committee in the wake of recent allegations about the company’s financial transactions. Earlier this week, a Bloomberg report alleged that SEBI had found a discrepancy of some $241 million in ZEEL’s accounts and that the company founders were being called in for questioning. On Friday, ZEEL said that its board “has approved to constitute an Independent Advisory Committee that will enable it to review and take cognizance of the widespread circulation of misinformation, market rumors, and speculation that has led to the formation of negative public opinion about the company and consequent erosion of investor wealth.”
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