Zee strengthens the role of independent advisory panel to investigate allegations levelled by SEBI and others

The ‘Independent Advisory Committee’ which was constituted on 23rd February 2024 has now been renamed as ‘Independent Investigation Committee’.

The Board of Directors of ZEE Entertainment Enterprises (ZEEL) has expanded the role of its Independent Advisory Committee to review the allegations levelled by market regulator SEBI and other parties against the company.

 The ‘Independent Advisory Committee’ which was constituted on 23rd February 2024 has now been renamed and is termed as ‘Independent Investigation Committee’.

The Committee will fact check/review/ examine all allegations raised by the regulatory agencies against the company and promoters. The Committee can further also appoint or hire any other independent outside agency to assist the committee in fulfilling its charter.

The Committee will review all company records and information to prepare and present a detailed report to the Board, advising on the future course of action, in the best interest of all the shareholders and other stakeholders of the company.

The Independent Investigation Committee will be chaired by Justice Satish Chandra and comprise of ZEE’s Independent Directors, Uttam Prakash Agarwal and P.V.R Murthy.

“It is pertinent for the Board to take concerted action in order to get to the truth of the matter in the allegations made against the Company and secure the interests of all its shareholders and other stakeholders. The Independent Investigation Committee chaired by Justice Satish Chandra, will further guide and empower us to take necessary actions in a timely manner, that are in the best interests of the Company’s future and all its shareholders and other stakeholders,” said R. Gopalan, Chairman, ZEE Entertainment Enterprises Ltd.

“Based on the recommendations of the Audit Committee and after seeking inputs from Justice Chandra, an independent assessment and fact-checking of all allegations will be ensured. The Board will also suggest the measures to be implemented in the interest of the Company, once the detailed report is presented by the Committee,” he added.