ZEEL board forms advisory panel to curb investor wealth erosion

A Russian flag and logos of Sony and Zee are seen on this illustration taken January 30, 2024. REUTERS/Dado Ruvic/Illustration
| Photo Credit: Dado Ruvic

With its inventory value tanking and inflicting heavy losses to buyers following the collapse of the merger take care of Sony, the Board of ZEE Entertainment Enterprises Ltd. (ZEEL) has determined to represent an Independent Advisory Committee that may “allow it to evaluate and take cognizance of the widespread circulation of misinformation, market rumours, and hypothesis that has led to the formation of unfavourable public opinion concerning the firm and consequent erosion of investor wealth,” the corporate stated in a submitting.

The committee shall be presided by Satish Chandra, a former Judge of High Court of Allahabad, and can comprise of two Independent Directors of ZEEL, Uttam Prakash Agarwal and PVR Murthy.

The committee will independently present steerage on the measures and future plan of action that the Board is required to take in an effort to shield the pursuits of all of the stakeholders,” ZEEL stated.

The board will search the professional steerage of the committee on the related matter once in a while.