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Zee Group’s Subhash Chandra Accuses Indian Regulatory Chief of Sinking Company’s Merger With Sony
Subhash Chandra of Indian media giant Zee has accused the chair of regulator Securities and Exchange Board of scuppering the merger with Sony.
Subhash Chandra, chairman emeritus of Indian media giant Zee Entertainment Enterprises Ltd (ZEEL), has accused Madhabi Puri Buch, chair of regulator Securities and Exchange Board (SEBI) of scuppering the Sony-ZEEL merger. In a press conference on Monday, Chandra alleged that Buch is “corrupt” and “vindictive” and that Zee’s issues with SEBI was the “main reason” that the merger fell apart. Ultimately, the merger was terminated by Sony which resulted in the erosion of huge wealth of minority shareholders,” Chandra said in a statement following the press conference.
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