Essel Group
 | |
| Company type | Private |
|---|---|
| Industry | Conglomerate |
| Founded | 21 May 1926 |
| Founder | Jagannath Goenka |
| Headquarters | Mumbai,Maharashtra,India |
Area served | Worldwide |
Key people | Subhash Chandra (Chairman) |
| Products | |
| Revenue |  ₹16,800 crore(US$2.4 billion) (2023) |
| ₹-158 crore (US$ -19 million) (2023) | |
Number of employees | 10,000+ (2021) |
| Subsidiaries |
|
| Website | www |
Essel Group,(also known asZee Group) is an Indianmultinationalconglomerateholding companyandcorporate promoterheadquartered inMumbai,Maharashtra,India.[2]The company has had business interests inmass media,infrastructureandpackaging.It operates thesubsidiaryofZee Media Corporation.[3][4][5]
Founded in 1926 as the Messrs Ramgopal Indraprasad by Jagannath Goenka, the company was expanded and converted into the Essel Group of Industries by his grandson,Subhash Chandra.[6]Chandra is part of the Goenka (Goel) family which owns and operates the group; he was also the chairman of the company and a former member of theRajya Sabha.[7]
Experiencing financial troubles in 2019,[8][9]Essel sold off several of its assets, includingEssel Propackand stakes of Zee Entertainment Enterprises.[8][9]
History
[edit]1926–1967
[edit]In 1926, Jagannath Goenka founded the Messrs Ramgopal Indraprasad as a commercial firm to deal infood grainsat themandi(product market) inAdampur, Hisar.In 1946, as a result of poor performance in Adampur, the firm moved to the town ofHisar.Goenka attempted to expand the business in 1948 by setting up apulsespolishing factory inDelhi,but he suffered heavy losses, forcing him to cease Delhi operations in 1951. He moved the Delhi machinery to Hisar, where he was able to turn consistent profits by selling polishedwhole grainstoGujaratandSouth India.By 1966, the firm was operating onedalmilland twocotton ginningfactories.[6][non-primary source needed]
1967–1992
[edit]In 1967, the business suffered a series of losses, leaving the Goenka family at a net deficit of₹600,000(equivalent to₹32 million or US$380,000 in 2023). Between 1967–68, the Goenkas' connections in theFood Corporation of India(FCI) helped the family secure not only a deal to supply it with polished pulses and cleanedbarleybut also a later contract for storage of food grains.[6]
In 1973, control of the company was handed over toSubhash Chandra,the grandson of Jagannath Goenka.[10]
The company renamed itself the Essel Group in 1976. After acquiring a storage contract with the FCI in the same year, Essel established a new subsidiary, Lamina Packers, to manufacture packaging materials.[6]In 1981, Essel obtained lucrative export contracts for rice andsoya beansas a result of Indo–USSRbilateraltrade agreements.According to a 2014 estimate, Essel Group's net worth by 1982 was over₹100crore(equivalent to₹160 crore or US$19 million in 2023).[10][6]
In December 1982, Lamina Packers became incorporated asEssel Packaging,[6]which marked Essel Group's full-blown venture into thepackaging industry,with the primary product being the laminated tube units that originated with Lamina Packers. In 1983, the group also began investing in a future amusement park in Mumbai.[10]EsselWorldopened six years later, becoming India's first amusement park.[11]Although the park was partly meant to signal that its parent corporation wanted to be a major force in theentertainment industry,EsselWorld had always been unprofitable until its shutdown in 2023.[12][11][13][14]
1992–Present
[edit]As of 1992, Essel Group began to take a bigger interest and stake in the entertainment industry. That year it incorporatedZee Telefilms Ltd[15]and then looked for a place where Zee's content could be broadcast. Zee andStar TVentered into a joint venture called Asia Today Ltd so Zee could lease atransponderfrom satellite networkAsiaSat.The transponder agreement was signed in April 1992, andZee TVbegan broadcasting on 1 October.[16][13]It was India's firstHindi Languagesatellite channel, and by 1994 it had captured 65% of the satellite market share. Zee TV remained themarket leaderuntil 2000.[16]
In 1994,[17]Essel Group incorporatedSiti Cableto be thedistributionsubsidiary of Zee Telefilms. Siti would providecable serviceto customers to expand the reach of Zee's satellite channels.
The company continued to develop entertainment channels that successfully competed withStar India,a Star TV subsidiary. In 1998, Essel/Zee turned to journalism withZee News,the first 24x7Hindi Languagenews channel in India.[18]
In 2000, Zee Telefilms ended its partnership with Star TV bybuying outits shares in Asia Today Ltd. Star India was now free to produce programmes in Hindi in an attempt to target local audiences and lure Zee's viewers away.
Star India would not be Zee's only competition in the coming years. Both international and regional broadcasters ate away at Zee's market share, some substantially.[16][19]Zee News saw its market dominance broken with the emergence of competing channels such asAaj Tak,STAR News,andNDTV(after its own separation from STAR News).[18]Trying to get a competitive edge, Zee Telefilms entered into a joint venture withTurner Broadcasting Systemin 2002 so Zee's subscription packages could include Turner subscription channels such asCartoon Network,Pogo,andHBOalongside Zee Telefilm channels.[20]Essel also had high hopes for another market and more viewers when, through its subsidiaryDish TV,it launched the firstdirect-to-home television in Indiaon 2 October 2003.[21]
In 2006, Essel separated Zee Telefilms Ltd into three companies: Zee News Ltd, the group's news broadcasting subsidiary; Wire & Wireless India Ltd (later renamed toSiti Networks), the cable distribution subsidiary; and Zee Telefilms Ltd, which remained the group's direct consumer broadcasting arm.[22](Just a year later, Zee Telefilms Ltd was renamedZee Entertainment Enterprises Ltd,and in 2013 Zee News Ltd becameZee Media Corporation Ltd.)[15][23]
Zee Telefilms was trying at this time to enter Indiansports broadcasting,but acquiringcricketbroadcasting rights proved very difficult. In 2004, Zee briefly secured rights from theBoard of Control for Cricket in India(BCCI), but the contract was canceled following a legal complaint over the conduct of the rights auction. In 2005, Zee went forward with launching theZee Sportschannel, and in the following year it boughtTaj Television,which operated theTen Sportschannels.
After years of failing to get cricket broadcasting rights, in 2007 the Zee firms funded their ownIndian Cricket League(ICL) and televised its games, but it never gained traction and was phased out after two seasons.[24]Under its own name, Essel Group launched theMumbai Football Clubthat year,[25]which, though it outlasted Essel's investment in sport broadcasting, was defunct by 2019.[26]
In 2016, Zee decided to cut its losses and sold all its sport broadcasting assets toSony.[27]The joint distribution venture with Turner India ended in 2018.[20]
By 2019, Zee Entertainment Enterprises Ltd (ZEEL) was Essel Group's only profit-generating company; the group had accumulated an overall debt of around₹20,000 crore(equivalent to₹250 billion or US$3.0 billion in 2023).[28]During the next year, Essel Group sold off part of its pledged shares in ZEEL for the repayment of some of its debt.Invesco Oppenheimeracquired an 11% stake in the company, while Essel Group's decreased to 22.37%.[8][29]
Assets
[edit]Zee Media Corporation (4.34% stake)
[edit] | |
| Company type | Public |
|---|---|
| BSE:532794 NSE:ZEEMEDIA | |
| Industry | News Media |
| Headquarters | Mumbai,Maharashtra,India |
Key people | Jawahar Goel (Editor-in-chief) |
| Brands | Zee News,Daily News and Analysis |
| Revenue | ₹640 crore(US$77 million)[30](2020) |
| ₹−273 crore(US$−33 million)[30](2020) | |
Number of employees | 1,719[30](2020) |
| Website | www |
| Footnotes / references [31] | |
TheZee Media Corporation Limited(abbreviated asZMCL;formerlyZee News Limited) is thenews broadcastingcompany of the Essel Group.[22]The company operates a constellation of news channels under the brand name ofZeeincluding the English language news channelWION.[32]TheZee Newschannel is the flagship channel of the company.[33]The Zee Media Corporation also owns and operates theZEE5distribution platform.[34]
It was involved in a joint venture with theDainik BhaskarGroup for the publication of theDaily News & Analysisnewspaper but the paper was discontinued in 2019 after suffering loses.[35]The corporation also runs the Zee Institute of Media Arts (ZIMA)[32]which is owned by Zee Learn, the schooling subsidiary of the Essel Group.[36]
The Zee Media Corporation was formerly a subsidiary of the Zee Telefilms Ltd (later renamed to Zee Entertainment Enterprises) and existed under the name of Zee News Limited. It was demerged as a separate company of the Essel Group in 2006.[22]The Zee News Limited was renamed to Zee Media Corporation in 2013.[23]
Operated channels By Zee Media Corporation
[edit]| Channel | Launched | Language | Category | SD/HD availability | Notes |
| Zee News | 1999 | Hindi | News | SD | HD version coming soon |
| Zee Bharat | 2017 | ||||
| Zee Business | 2005 | ||||
| Zee 24 Ghanta | 2007 | Bengali | |||
| Zee Kannada | 2006 | Kannada | |||
| WION | 2016 | English | HD version coming soon | ||
| Zee 24 Taas | 2007 | Marathi | |||
| Zee 24 Kalak | 2017 | Gujarati | |||
| Zee Rajasthan | 2013 | Hindi | |||
| Zee Uttar Pradesh Uttarakhand | 2017 | ||||
| Zee Madhya Pradesh Chhattisgarh | 2017 | ||||
| Zee Punjab Haryana Himachal | 2013 | ||||
| Zee Bihar Jharkhand | 2017 | ||||
| Zee Salaam | 2010 | Urdu |
Defunct/Former channels
[edit]| Channel | Language | Category | SD/HD availability | Notes |
| Zee 24 Gantalu | Telugu | News | SD | |
| Zee Odisha | Odia | News | SD |
Siti Networks (6.1% stake)
[edit]Siti Networks Limited(abbreviated asSNL;formerlyWire & Wireless India Limited;alternativelySiti Cable) is themulti-system operatorof the Essel Group.[37]It providescable distribution servicesfor household consumption. Established in 1994 as a subsidiary of the Zee Telefilms Ltd (later renamed to Zee Entertainment Enterprises),[16]it was founded as a separate company of the Essel Group following the de-merger of the Zee Telefilms in 2006.[22]
In October 2021, it was reported that promotes have just 6.1% stake left inSiti Networks.[38]
Dish TV (4.04% stake)
[edit]DishTV India Limited(abbreviated asDTIL,stylised asdishtv) is aDirect to Home(DTH) television provider company which provides DTH service through multiple brands such as Dish TV, d2h andZing Digital.[39]Dish TV was launched on 2 October 2003 as the DTH provider of the Essel Group and was merged withVideocon D2Hon 22 March 2018.[21][40]The Essel Group maintains a 55% stake in the company while theVideocon Groupmaintains a 45% stake.[41]It became the largest DTH provider in India after the merger.[40]The company is also partnered withThe Times GroupownedMX Playerforstreaming services.[39]
In May 2021, it was reported that promoters' shareholding inDish TVhas fallen to just 5.67% andYes Bankhas become biggest stock owner ofDish TV.[42]The shareholding further fell to 4.04% by 2023.
Zee Entertainment Enterprises (3.99% stake)
[edit]TheZee Entertainment Enterprises Limited(abbreviated asZEEL;formerlyZee Telefilms Limited) is a media andentertainmentbroadcasting company.[43]It was the primary profit generating company of the Essel Group.[28]It owns a constellation ofentertainmentchannels under the brand name ofZeeand the channels under the brands ofLiving Entertainment,Bigand "&".[44]The Zee Entertainment Enterprise also owns and operates therecord labelofZee Music Companyand thefilm studioofZee Studios.[45]
The company was incorporated in 1992 as the Zee Telefilms Limited, the Essel Group's venture intomass media.It launched its flagship television channel, Zee TV on 1 October 1992.[13]In 2006, two subsidiaries of the company were de-merged from the Zee Telefilms Ltd and segregated as distinct ententes under the Essel Group. Zee News Ltd (later renamed to Zee Media Corporation) became the news broadcasting subsidiary of the group while Wire & Wireless India Limited (later renamed toSiti Networks) became thecable distributioncompany of the group. Following the segregation, Zee Telefilms was rebranded as to Zee Entertainment Enterprises.[22]
Between 2002–2018, the Zee Entertainment Enterprises was involved a joint venture with american distribution brandTurner Indiafor the distribution of channels in India,NepalandBhutan.[46]The company was involved in sports broadcasting between 2004–2016. It launched its own private cricket league, theIndian Cricket Leaguewhich held two seasons between 2007–2009 but the league failed to gain traction.[24]In 2016, it sold off all its sports broadcasting assets in the venture toSony.[27]
As of 2020, the company has suffered successive reduction in revenue and has been subjected to investigative probes by theEnforcement Directorate.[47][48]The Essel Group has divested a part of its shares in the company for the repayment of pending dues, reducing its stake in the company to 22.37% with much of the remaining stake still pledged as collateral to the remaining dues.[8]
In September 2021 ZEEL Announced merger withSony Pictures Networks India.
In October 2021, it was reported that founderSubhash Chandraand his son,Punit Goenkatogether own just 3.99% stake ofZee Entertainment.[49]
On 22 December the board ofZee Entertainment Enterprisesapproved the merger withSony Pictures Networks India.and now pending for government approval.
Zee Learn (15.05% stake)
[edit]TheZee Learn Limited(abbreviated asZLL;informally referred to asZee Schools) is thefor-profit educationcompany of the Essel Group.[50]Incorporated in 1958, the company did not begin operating until 2010.[51]Zee Learn founded theprivate schoolchains of Kidzeepreschoolsand Mount Litera ZeeK–12schools. As of 2019, it had more than 1,900 Kidzee preschools and 120 Mount Litera Zee schools across India and threeinstitutes of higher education;the Zee Institute of Media Arts (ZIMA), Zee Institute of Creative Arts (ZICA) and the Himgiri Zee University, Dehradun (HZU).[36]The company also promoted and operated heZeeQchannel of the Zee Entertainment Enterprises.[52]The studentcoachingfirm MT Educare became a subsidiary of Zee Learn following an acquisition in May 2018.[53]It has been inactive since 2020 and has become a direct subsidiary of Zee Entertainment Enterprises despite having a separate stock listing.
Others
[edit]The group owned and operatedamusement parksof "Essel World" and "Water Kingdom" inMumbai.[54]Essel World was one of the first amusement parks in India; it was shut down in April 2023.[14]
TheShirpur Gold Refineryuses the brand name ofZee Goldin a joint venture with the Essel Group for the marketing of the refinery's products; the Essel Group gets royalties of 20% on the net profit for the brand usage.[55]The Refinery recently went public diluting Essel Group's stake to 43.66%.[56]
The group also operated the onlinelotteryPlaywininSikkim.[57]The lottery however ceased operation in 2020, following the sale of assets by the Essel Group for the repayment of pending debts.[58]
Essel Group had founded and operatedEssel Propackuntil sale of their stake in 2019.
Controversy
[edit]Zee Entertainment Enterprises Limited (Dispute between Promoters)
[edit]On 11 September 2021, Invesco asked Zee management to call an "extraordinary general meeting" (EGM) of shareholders to consider its demands. One of the main demands was the removal ofPunit Goenka,son of the Zee Network founder.[59]However the Zee board rejected the demand from Invesco to convene an extraordinary general meeting.[60]Invesco Developing Market Funds Moves to a National Company Law Tribunal (NCLT) and theBombay High Court,seeking a mandatory order for Zee Enterprises Entertainment Limited (ZEEL) to call the extraordinary general meeting (EGM) that the shareholder has been demanding.[61][62]
OFI Global China Fund, who also moved the NCLT along with Invesco, remarked at the hearing that the meeting that Zee Entertainment board had conducted on October 1 was just a legal formality and that it is a classic case ofForum shopping.
On 11 October 2021,Invesco[63]wrote an open letter to the other shareholders saying they are disappointed that the leadership of Zee has resorted to a reckless public relations campaign in response to the overwhelming demand from shareholders for leadership changes at Zee network. They had also tried to merge Zee with some other Indian company in early 2021, but the Zee board rejected it.
The Zee Board replied to Invesco's open letter saying they didn't care about the company, and Invesco is not motivated by concerns related to any corporate governance issue,[64]but "by the events that transpired during February-April 2021 pointing Invesco purposed deal withReliance Industries.[65]
Reliance Industries Ltd (RIL) said it proposed to merge all its media properties with Zee Entertainment at fair valuations during discussions in February and March 2021 that US investment firm Invesco helped arrange with managing director and member of the founding family of the media and entertainment company.
On 21 October, theBombay High Courtasked the Zee board to call an EGM as demanded by shareholder Invesco, and counsel appearing for Zee Entertainment said the company will inform the court of the date of the EGM by the morning of October 22.[66][67]
On 7 December, Invesco heading towards a resolution, Invesco was expected to back the merger deal with Sony as long as the Goenka family does not get any preferential equity.[68]
On 22 December, board ofZee Entertainment Enterprisesapproved the merger withSony Pictures Networks India.[69]
References
[edit]- ^"Esselgroup - Essel Group Profile".www.esselgroup.com.Archived fromthe originalon 19 February 2023.Retrieved13 December2020.
- ^Sapam, Bidya (2 February 2020)."Tarun Katial | On the binge".Livemint.
- ^"Sangh backs Zee in its fight for survival (IANS Exclusive)".Outlook India.6 February 2019.
- ^Chaki, Deborshi (9 January 2019)."Essel Group in talks to raise $400 million to refinance debt".Livemint.
- ^Pratap, Rashmi (21 April 2019)."India Inc's Crown Jewels At Risk- Business News".Business Today (India).
- ^abcdef"From 'Okara Dukaan' to Zee… the complete story".MxMIndia.1 October 2012.
- ^"Subhash Chandra and family".Media Ownership Monitor.Reporters Without Borders.
- ^abcdGopakumar, Gopika; Laskar, Anirudh (5 November 2019)."Subhash Chandra may lose say in Zee Entertainment".Livemint.
- ^ab"Sudhanshu Vats Appointed CEO And MD At Essel Propack".BW Businessworld.15 April 2020.
- ^abcSingh, Gurbir (8 November 2014)."New Pastures For The Patriarch".BW Businessworld.Archivedfrom the original on 30 December 2018.
- ^ab"Subhash Chandra: interesting facts of chairman of the essel group".Business Insider.17 October 2020.
- ^Singh, Suhani (21 August 2017)."Entertainment Inc.: The story of Zee, one of India's first Hindi satelite [sic] channels ".India Today.Retrieved26 February2020.
- ^abcAgarwal, Amit (12 July 2013)."Subhash Chandra makes television history with Zee TV began life running a flour-mill".India Today(published 15 August 1994).Retrieved28 February2020.
- ^ab"Mumbai: Essel World Shut Down? Heartbroken 90s, Early 2000s Kids Take Nostalgia Trip on Twitter".TimesNow.4 May 2023.Retrieved7 May2023.
- ^ab"Zee Entertainment Enterprises History".The Economic Times.Retrieved26 February2020.
- ^abcdBansal, Shuchi; Sheikh, Aminah (29 September 2012)."There and back again: Subhash Chandra and the Zee TV story".Livemint.Retrieved26 February2020.
- ^"Siti Networks".sitinetworks.com.Retrieved12 May2020.
- ^abChakraborty, Subhas Ranjan; Chakrabarti, Shantanu; Chaterjee, Kingshuk, eds. (2010).The Politics of Sport in South Asia.Oxfordshire&New York:Routledge.p. 136.ISBN978-0-415-37168-1.
- ^Evens, Tom; Isifidis, Petros; Smith, Paul (2013).The Political Economy of Television Sports Rights.Palgrave Macmillan.p. 151.ISBN978-1-137-27564-6.
- ^abJha, Lata (26 March 2018)."Zee Entertainment and Turner International to work independently".Livemint.Retrieved16 May2020.
- ^abDas Gupta, Surajeet (1 January 2014)."10 years of DTH in India: The other electronics revolution".Business Standard India.
- ^abcde"Zee Telefilms demerges into 3 firms".Business Standard.14 December 2006.
- ^ab"Zee Media Corporation History | Zee Media Corporation Information".The Economic Times.Retrieved25 February2020.
- ^abEvens, Tom; Isifidis, Petros; Smith, Paul (2013).The Political Economy of Television Sports Rights.Palgrave Macmillan.pp. 152–158.ISBN978-1-137-27564-6.
- ^"Mumbai Football Club launched".Rediff.28 June 2017.
- ^Parasar, Swapnaneel (21 August 2019)."ISL: Pratik Chowdhary set to sign for Mumbai City FC | Goal.com".www.goal.com.
- ^abMalvania, Urvi (1 September 2016)."ZEE sells Ten Sports to Sony for $385 mn".Business Standard India.
- ^ab"Why Subash Chandra had to Resign as Chairman of Zee".NewsClick.27 November 2019.
- ^Sanjai, P. R. (1 August 2019)."Zee sells 11% stake to clear debt, still short of Rs 6,800 crore".ThePrint.Retrieved15 May2020.
- ^abc"Zee Media Share Price, Zee Media Stock Price, Zee Media Corporation Ltd. Stock Price, Share Price, Live BSE/NSE, Zee Media Corporation Ltd. Bids Offers. Buy/Sell Zee Media Corporation Ltd. news & tips, & F&O Quotes, NSE/BSE Forecast News and Live Quotes".www.moneycontrol.com.Retrieved25 August2021.
- ^"Slowdown Blues: Zee Media profit drops 73% to Rs 13.17 crore in FY19".www.businesstoday.in.
- ^ab"Zee Media Corporation".Media Ownership Monitor.Reporters without Borders.
- ^"Director Reports, Company Results of Zee Media Corp".NDTV Profit.Retrieved25 February2020.
- ^"Netflix vs Prime Video vs Disney+ Hotstar vs Zee5 vs AltBalaji vs others: Subscription plans detailed".The Indian Express.7 May 2020.
- ^Dutta, Amrita Nayak (11 October 2019)."DNA goes out of print 14 years after launch — rise & sudden fall of a promising newspaper".ThePrint.Retrieved25 February2020.
- ^abPM, Indulal; Balakrishnan, Reghu (19 November 2019)."KKR-backed EuroKids in talks to buy Kidzee for Rs 1,200 crore".The Economic Times.
- ^"Lenders invoke shares of Essel group firms Dish TV, Siti Cable, Zee Learn".Outlook India.11 April 2020.
- ^Kar, Ayushi."Unpaid dues: Operational creditors may drag Siti Networks to NCLT".@businessline.Retrieved18 October2021.
- ^ab"Dish TV India partners with MX Player".The Financial Express.27 April 2020.
- ^ab"Dish TV India, Videocon d2h merger completed".The Economic Times.22 March 2018.
- ^Ahluwalia, Harveen (10 May 2017)."Dish TV and Videocon d2h merger gets CCI approval".Livemint.
- ^"Dish TV promoters' stake falls to 5.67%".The Economic Times.Retrieved10 October2021.
- ^"ZEEL jumps after foreign fund buys stake".Business Standard India.23 April 2020.
- ^List of sources:
- "Zee to launch movie channel under new brand '& pictures'".Business Line.8 August 2013.Retrieved26 February2020.
- "ZEE Entertainment launches new Hindi General Entertainment Channel '&TV' - Times of India".The Times of India.22 January 2015.Retrieved26 February2020.
- Malvania, Urvi (3 September 2015)."Essel launches Living Foodz".Business Standard.Retrieved26 February2020.
- Hasan, Abid (23 November 2016)."ZEE Acquires Anil Ambani-led Regional Channels Big Magic, Big Ganga".Businessworld.Retrieved27 February2020.
- ^List of sources:
- "Zee Music Company Teams Up With Sony Music Entertainment".Business of Cinema.18 April 2014.
- K.K, Sruthijith (19 June 2008)."Zee to re-enter film production".Livemint.
- "Zee Group launches two motion picture production banners".Business of Cinema. 2008.
- ^Jha, Lata (27 March 2018)."Turner International appoints IndiaCast Media as its distribution agent".Livemint.
- ^Pinto, Viveat Susan (18 March 2020)."Zee Entertainment stock falls 20% a day after ED summons Subhash Chandra".Business Standard India.
- ^"Corporate Governance: Corp affairs ministry probes Zee Entertainment's books".The Financial Express.6 February 2020.
- ^Sood, Varun (30 September 2021)."Tribunal orders Zee to announce EGM by Sunday".mint.Retrieved10 October2021.
- ^"Essel Group bets big on education".Business Line.9 April 2010.
- ^"Zee Learn History".The Economic Times.
- ^"Zee launches kids edutainment channel ZeeQ".Business Standard India.15 October 2012.
- ^Saraswathy, M (5 May 2020)."Zee Learn dismisses scepticism over MT Educare buy, says working to expand product, brand reach".Moneycontrol.
- ^Menon, Shailesh (6 February 2018)."Meet the first families of the growing theme and amusement parks segment in India".The Economic Times.
- ^"Shirpur Gold Refinery Ltd".Business Standard India.
- ^"Shirpur Gold Share Price, Shirpur Gold Stock Price, Shirpur Gold Refinery Ltd. Stock Price, Share Price, Live BSE/NSE, Shirpur Gold Refinery Ltd. Bids Offers. Buy/Sell Shirpur Gold Refinery Ltd. news & tips, & F&O Quotes, NSE/BSE Forecast News and Live Quotes".www.moneycontrol.com.Retrieved7 May2023.
- ^Shangderpa, Pema Leyda (22 August 2003)."Appeal in SC for Playwin".The Telegraph (Calcutta).
- ^"Essel Group repays half the debt to MFs & NBFCs".The Economic Times.7 September 2019.
- ^"Zee Entertainment's Largest Shareholders Call EGM Seeking Removal Of Punit Goenka From Board".Moneycontrol.13 September 2021.Retrieved21 October2021.
- ^"Zee Says Will Not Hold EGM As Demanded By Shareholder Invesco".Moneycontrol.October 2021.Retrieved21 October2021.
- ^"Zee-Invesco NCLT Hearing: Invesco Says NCLT Must Make A Mandatory Order To Call EGM".Moneycontrol.4 October 2021.Retrieved21 October2021.
- ^Chatterjee, Sudipto Dey & Dev (4 October 2021)."Prolonged battle ahead as ZEE Entertainment takes Invesco to court".Business Standard India.Retrieved21 October2021.
- ^"Invesco Shoots Letter To Zee Shareholders, Seeks Better Governance, Says Founding Family Benefiting At The Cost Of Others".Moneycontrol.11 October 2021.Retrieved21 October2021.
- ^"Zee Hits Back At Invesco's Open Letter, Rebuts Objections On Sony Merger Deal".Moneycontrol.13 October 2021.Retrieved21 October2021.
- ^"Invesco Proposed Merger With Large Indian Group In Feb 2021, Wanted Punit Goenka To Lead: Zee".Moneycontrol.12 October 2021.Retrieved21 October2021.
- ^"Bombay HC Asks Zee To Call EGM As Demanded By Shareholder Invesco".Moneycontrol.21 October 2021.Retrieved21 October2021.
- ^Upadhyay, Payaswini (21 October 2021)."Zee Vs Invesco: Bombay High Court Proposes To Allow EGM, But..."BloombergQuint.Retrieved21 October2021.
- ^Kar, Ayushi (5 December 2021)."Invesco to back Zee-Sony deal as long as Punit Goenka is not given PE".@businessline.Retrieved7 December2021.
- ^"Zee-Sony Merger Approved, Punit Goenka Will Be CEO Of Merged Entity".NDTV.com.Retrieved22 December2021.
