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pune
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Tale of Zee TV, bankruptcy court, corruption, Bombay High Court

Tue Oct 26, 2021 2:30 pm

Zee Entertainment Enterprises at one point of time was a premium stock. It used to command well over INR 600/-+ years ago Even in 2016, after demo where a major correction happened in the indices, it halved and stood at around INR 300/- as can be seen from moneycontrol 5 year ticker.

https://www.moneycontrol.com/india/stoc ... prises/ZEE

Around 2018, due to demo and then the failed GST, industry went for a toss and satellite TV such as Zee which mostly were on ad revenues found their ad revenues slumping a record number. Industry had no more money to give. Since 2018 the group had been struggling. They had raised a lot of debt from Indian Public Sector Banks as well as internationally. After trying all the possible solutions, they said they want to look for an outside partner who would have majority stake. -

https://economictimes.indiatimes.com/in ... 056312.cms

This is part 1.
 
pune
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Re: Tale of Zee TV, bankruptcy court, corruption, Bombay High Court

Tue Oct 26, 2021 2:38 pm

Then Zee subsequently went to NCLT

https://en.wikipedia.org/wiki/National_ ... w_Tribunal

The hope being one or more concerns will help them. They have digital properties, spectrum, assets but no cash flow to speak of.

As can be seen that when it was in NCLT for a long time the stock was languishing at INR 10/- meaning dead stock.

Then suddenly news comes that too competing parties Invesco (from China) and Sony wants to buy a stake in the same.

Before this news came in media, Rakesh Jhunjhunwala got the whole insider take and made INR 70 crore using that knowledge in a week.

https://www.financialexpress.com/market ... e/2336059/

This is part 2.
 
pune
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Re: Tale of Zee TV, bankruptcy court, corruption, Bombay High Court

Tue Oct 26, 2021 2:42 pm

Rakesh Jhunjhunwala had been convicted using insider information for trading purposes and settled with SEBI for 11 crore just a few months ago -

https://www.zeebiz.com/market-news/news ... ore-160750

Coming back to the story, the uplift on it was from the interest shown by the competing parties.

Another twist in the same, Reliance Industries was also party to the discussions between Zee and Invesco. Who is Invesco will share in part 4. Of course, they are saying that Invesco was assisting them but is silent on the fact that if it was assisting them, then why is it making the play. Pin-trop silence on that.

https://www.aninews.in/news/national/ge ... 013175231/
Last edited by pune on Tue Oct 26, 2021 3:00 pm, edited 1 time in total.
 
pune
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Re: Tale of Zee TV, bankruptcy court, corruption, Bombay High Court

Tue Oct 26, 2021 2:48 pm

Now what has happened is Invesco wanted to hold an EGM (Extraordinary General Meeting) but the nanny state called India refused to do the same. Apparently, shareholders do not know what is best for them -

https://www.bloombergquint.com/law-and- ... court-says

As shared in the news, Invesco is from China and hence bad news and somehow Indian citizens cannot be trusted to figure it out themselves.

Invesco and OFI Global China Fund LLC

Story to be continued as we know more of the ongoing stuff.
 
VolvoBus
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Re: Tale of Zee TV, bankruptcy court, corruption, Bombay High Court

Tue Oct 26, 2021 9:38 pm

Can you please clarify a number of your points/assertions, as they appear to contradict some of the links that you have posted.

Your link to Moneycontrol shows a low of INR 110 in late 2019, slightly different to the INR you quote.

Your link to NCLT explains what it does, but has no connection I can see to ZEEL.

Your link regarding bringing in outside parties mentioned both Sony and Reliance Industries as interested parties, so why is their appearance in discussions such a surprise.

You obviously did not read all the article about Jhunjhunwalla, as it specifically states that nothing is admitted or denied by the settlement.This is to avoid any implication of a criminal act.

The interaction between Invesco and Reliance was probably that of a {likely large} shareholder facilitating opening moves in a possible takeover/major investment. It appears that Reliance pulled out when they were not prepared to meet the demands of the founders,who include the CEO. As the object of the EGM was to remove said CEO ,as well as the independent directors, it suggests that Invesco believes that were not negotiating in good faith on behalf of the company.

Do you consider the High Court to be part of the 'Nanny State',as it was they,not the government, that suspended holding the meeting.Personally, I am not totally convinced by their reasoning, but I can see what it is.

I saw nothing in any of your links claiming that Invesco in Chinese. The Invesco that I found in the internet is an Atlanta based investment manager,with funds under management ,as at end September, in the region of USD 1500 bn. On their website,there is also a copy of an open letter to Zee shareholders, setting out why they want to call an EGM. Can you substantiate your assertion?

OFI Global Asset Management is a New York based asset manager with assets under management in excess of USD 170 bn. Their main brand appears to be Oppenheimer. Can you substantiate your implication of Chinese links?

Might it be an idea to sort out past stuff before worrying about the ongoing stuff ?
 
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BawliBooch
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Re: Tale of Zee TV, bankruptcy court, corruption, Bombay High Court

Wed Oct 27, 2021 6:36 am

Zee Tv promoter is one of the Chief "Faithfuls". His news channels compete with Republic TV to be the Fox News of India.

Zee channels are also at the fore front of running fake news stories vilifying Muslims and Christians to incite violence.

The Zee News promoter and atleast 3 journalists from his channel were convicted of trying to extort money from industrialists with threats of running fake news stories against them. Atleast 3 of them served jail time. Google "Tihari Choudhary". :)

This then is the illustrious history of just one of Dear Leader's Zee TV. Check the records of other cronies like Adani, Ambani and the Fraud Baba Patanjali!

Dear Leader's "faithfuls" on this forum shed fake tears of Tax Money being used to subsidise Air India. But keep silent on the Tax and Debt writeoffs to these 4 cronies. The total of Tax and Debt writeoffs to just these 4 cronies is 100x of Air India's alleged 'subsidy'.

That is how faith works. Just like Trump fans are blind to his many crimes, the "Faithful" are so blinded by their hatred for Muslims and Christians and their faith in Dear Leader, that they just cannot see facts that contradict their faith!
 
pune
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Re: Tale of Zee TV, bankruptcy court, corruption, Bombay High Court

Wed Oct 27, 2021 9:00 am

As far as invesco is concerned -

https://www.invesco.com/invest-china/en ... ut-us.html

How and why would an American company would want its client to invest in China.

As rightly shared, this is how faith works.
 
pune
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Re: Tale of Zee TV, bankruptcy court, corruption, Bombay High Court

Wed Oct 27, 2021 9:12 am

As far as Ramdev is concerned, this is what is going on with him

https://livelaw.in/top-stories/ramdev-s ... urt-176781

https://www.livelaw.in/news-updates/del ... uit-184271

And Ramdev has been found lying on multiple occasions, from asserting all his medicines are vegan to admitting their are animal bones in some formulations.
 
pune
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Re: Tale of Zee TV, bankruptcy court, corruption, Bombay High Court

Wed Oct 27, 2021 9:17 am

One can see also the below in context to the whole case -

https://www.bbc.com/news/56172784

I have been in touch with several doctors of allopathy who had to treat people who became worse off after they had coronil, quite a few of them died as well.

And they themselves have admitted that they have no tests or way to know if a person has coronavirus/covid-19. Nothing but human greed at work.
 
pune
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Re: Tale of Zee TV, bankruptcy court, corruption, Bombay High Court

Wed Oct 27, 2021 9:19 am

 
pune
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Re: Tale of Zee TV, bankruptcy court, corruption, Bombay High Court

Wed Oct 27, 2021 9:22 am

And this is after Indian Govt. has been using censorship as a tool to make pages disappear or not viewable to indian public. An example of the same.

https://antiguaobserver.com/press-relea ... the-table/

I have three different ISP's but none of them can reach that page, but if I use tor-browser I can see it. The answer is what antigua asked GOI for which GOI has no answers.
 
pune
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Re: Tale of Zee TV, bankruptcy court, corruption, Bombay High Court

Wed Oct 27, 2021 9:26 am

And there have been multiple reports of Ramdev taking over lands of people, often with the connivance of the center, this is from my own state -

https://www.kractivist.org/200-acre-lan ... -fadnavis/
 
pune
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Re: Tale of Zee TV, bankruptcy court, corruption, Bombay High Court

Wed Oct 27, 2021 9:29 am

And how shallow these people are can be seen through -

https://www.siasat.com/baba-ramdev-just ... t-2213792/

This is essentially how RW works in India.
 
pune
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Re: Tale of Zee TV, bankruptcy court, corruption, Bombay High Court

Wed Oct 27, 2021 9:34 am

VolvoBus wrote:
Can you please clarify a number of your points/assertions, as they appear to contradict some of the links that you have posted.

Your link to Moneycontrol shows a low of INR 110 in late 2019, slightly different to the INR you quote.

Your link to NCLT explains what it does, but has no connection I can see to ZEEL.

Your link regarding bringing in outside parties mentioned both Sony and Reliance Industries as interested parties, so why is their appearance in discussions such a surprise.

You obviously did not read all the article about Jhunjhunwalla, as it specifically states that nothing is admitted or denied by the settlement.This is to avoid any implication of a criminal act.

The interaction between Invesco and Reliance was probably that of a {likely large} shareholder facilitating opening moves in a possible takeover/major investment. It appears that Reliance pulled out when they were not prepared to meet the demands of the founders,who include the CEO. As the object of the EGM was to remove said CEO ,as well as the independent directors, it suggests that Invesco believes that were not negotiating in good faith on behalf of the company.

Do you consider the High Court to be part of the 'Nanny State',as it was they,not the government, that suspended holding the meeting.Personally, I am not totally convinced by their reasoning, but I can see what it is.

I saw nothing in any of your links claiming that Invesco in Chinese. The Invesco that I found in the internet is an Atlanta based investment manager,with funds under management ,as at end September, in the region of USD 1500 bn. On their website,there is also a copy of an open letter to Zee shareholders, setting out why they want to call an EGM. Can you substantiate your assertion?

OFI Global Asset Management is a New York based asset manager with assets under management in excess of USD 170 bn. Their main brand appears to be Oppenheimer. Can you substantiate your implication of Chinese links?

Might it be an idea to sort out past stuff before worrying about the ongoing stuff ?


Why such largesse towards Jhunjhunwala firstly. Somehow, he seems to be above law.

Seems he knows something of Dear Leader, such courtesy was not given to even Reliance Industries when they too did similar stuff. Of course, the penalty is nothing for him, an hr. work.

https://www.livelaw.in/pdf_upload/sebi- ... 391617.pdf
 
pune
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Re: Tale of Zee TV, bankruptcy court, corruption, Bombay High Court

Wed Oct 27, 2021 9:46 am

And on whatsapp there has been a message making rounds that India is on 99 year lease from the Queen, hence selling all to Adani and Ambani.

And while some people have tried to explain that there is no such thing, believers are believers -

https://www.quora.com/Is-India-under-le ... rs?share=1
 
VolvoBus
Posts: 262
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Re: Tale of Zee TV, bankruptcy court, corruption, Bombay High Court

Wed Oct 27, 2021 11:27 am

I presume that Pune's expenditure of band-width was in response to my post above.

All I can see in his posts are a somewhat childish comment about a world-wide major investment company, supported by a link to their restriction of continuation to professional investors. This suggests a warning that any investment in China is likely to be volatile.

Everything else relates to a somewhat peripheral character who appears to have dubious business ethics. However, Pune made a statement that Jhunjhunwalla made a sizeable profit using inside information, linking to a press article that specifically stated that the settlement did not include any admissions or denials.

So far, Pune has made no attempt to answer my enquiries, and if he fails to do so, I will refer this thread to the moderators for review.
 
pune
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Re: Tale of Zee TV, bankruptcy court, corruption, Bombay High Court

Wed Oct 27, 2021 4:03 pm

VolvoBus wrote:
I presume that Pune's expenditure of band-width was in response to my post above.

All I can see in his posts are a somewhat childish comment about a world-wide major investment company, supported by a link to their restriction of continuation to professional investors. This suggests a warning that any investment in China is likely to be volatile.

Everything else relates to a somewhat peripheral character who appears to have dubious business ethics. However, Pune made a statement that Jhunjhunwalla made a sizeable profit using inside information, linking to a press article that specifically stated that the settlement did not include any admissions or denials.

So far, Pune has made no attempt to answer my enquiries, and if he fails to do so, I will refer this thread to the moderators for review.


You may do as you please, perhaps you didn't see this -

https://www.moneycontrol.com/news/busin ... 94971.html
 
pune
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Re: Tale of Zee TV, bankruptcy court, corruption, Bombay High Court

Wed Oct 27, 2021 4:07 pm

And as far as SEBI itself is concerned, there is more than enough data to show how they don't take any action.

https://www.moneylife.in/article/is-seb ... 63923.html

https://www.moneylife.in/article/sahara ... 64781.html
 
pune
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Re: Tale of Zee TV, bankruptcy court, corruption, Bombay High Court

Wed Oct 27, 2021 4:08 pm

And there is more - 2/n

https://www.moneylife.in/article/sebis- ... 62729.html - This is on insider trading, you can tell yourself

https://www.moneylife.in/article/sebi-d ... 59153.html
 
pune
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Re: Tale of Zee TV, bankruptcy court, corruption, Bombay High Court

Wed Oct 27, 2021 4:10 pm

With common man, SEBI is very strong, but when it comes to big people, it is shallow -

https://www.moneylife.in/article/miscar ... 61774.html
 
pune
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Re: Tale of Zee TV, bankruptcy court, corruption, Bombay High Court

Wed Oct 27, 2021 4:15 pm

pune wrote:
VolvoBus wrote:
I presume that Pune's expenditure of band-width was in response to my post above.

All I can see in his posts are a somewhat childish comment about a world-wide major investment company, supported by a link to their restriction of continuation to professional investors. This suggests a warning that any investment in China is likely to be volatile.

Everything else relates to a somewhat peripheral character who appears to have dubious business ethics. However, Pune made a statement that Jhunjhunwalla made a sizeable profit using inside information, linking to a press article that specifically stated that the settlement did not include any admissions or denials.

So far, Pune has made no attempt to answer my enquiries, and if he fails to do so, I will refer this thread to the moderators for review.


You may do as you please, perhaps you didn't see this -

https://www.moneycontrol.com/news/busin ... 94971.html


Many people think Rakesh Jhunjhunwala is another Warren Buffet. but they are dead wrong, The latter gentleman made his money by compounding. Taking smart decisions and monetizing gains decades later, The difference between the two is as chalk and cheese. This guy all the time gets insider information and acts on it. And as can be seen, somehow GOI is reluctant to take any action on him.

https://www.news18.com/news/business/ve ... 89258.html

It is only after they met, within 24 hrs. the permission for the airline was given,
 
pune
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Re: Tale of Zee TV, bankruptcy court, corruption, Bombay High Court

Wed Oct 27, 2021 4:17 pm

Mr. Modi has electoral funds as well PM Cares which is a private fund but all Govt. employees are forced to put money into it.

https://timesofindia.indiatimes.com/ind ... 468366.cms

https://ssite.org/why-govt-websites-sol ... pposition/

This is to show how money changes hands between people (read industrialists and people with special interests) and how 'setting' is done. Indian-style deals.
Last edited by pune on Wed Oct 27, 2021 4:22 pm, edited 1 time in total.
 
pune
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Re: Tale of Zee TV, bankruptcy court, corruption, Bombay High Court

Wed Oct 27, 2021 4:21 pm

Electoral Bonds -

https://theprint.in/opinion/electoral-b ... on/225162/

https://www.thehindu.com/opinion/lead/h ... 163851.ece

The gentleman above, Gautam Bhatia is a noted constitutional lawyer who practices in Supreme Court and has written quite a few books on Constitution of India. The other gentleman is a Harvard scholar but let that be as it is.
 
avier
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Joined: Tue Aug 07, 2018 12:38 pm

Re: Tale of Zee TV, bankruptcy court, corruption, Bombay High Court

Wed Oct 27, 2021 4:27 pm

VolvoBus wrote:
So far, Pune has made no attempt to answer my enquiries, and if he fails to do so, I will refer this thread to the moderators for review.

You should.
@pune is more like a film-script writer here than someone who actually wants to engage in a rational and systematic conversation. Way too many conjectures and theories, just to portray and set a narrative of what he wants to, with a high level of bias. When confronted, he'll flood the thread with way too many outdated and irrelevant articles, theories and posts to confuse the other member(s) on the actual direction of the topic and also to deflect away from the confrontation.
 
pune
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Re: Tale of Zee TV, bankruptcy court, corruption, Bombay High Court

Wed Oct 27, 2021 4:29 pm

In case Volvobus thinks NFRA is any good or different, I am sorry to disappoint him in that as well -

https://economictimes.indiatimes.com/pr ... 174793.cms

NFRA came up in 2018 - More details can be had at

https://en.wikipedia.org/wiki/National_ ... _Authority
 
VolvoBus
Posts: 262
Joined: Fri Sep 30, 2016 5:47 pm

Re: Tale of Zee TV, bankruptcy court, corruption, Bombay High Court

Wed Oct 27, 2021 4:38 pm

I still see nothing that answers my original queries.

Put up or shut up.
 
pune
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Re: Tale of Zee TV, bankruptcy court, corruption, Bombay High Court

Thu Oct 28, 2021 10:36 am

If you can't understand this, I have nothing more to say to you. This also was due to insider information. But for that somebody has to sue him in court.

https://www.moneycontrol.com/news/busin ... 94971.html

These people only learn when they are taken to court. A fresh example of the same -

https://www.msn.com/en-in/news/politics ... ar-AAQ32aS
 
VolvoBus
Posts: 262
Joined: Fri Sep 30, 2016 5:47 pm

Re: Tale of Zee TV, bankruptcy court, corruption, Bombay High Court

Thu Oct 28, 2021 11:58 am

Having looked further into insider dealing laws in India, I do note that the enforcement body is SEBI, who have the powers to enforce fines and lodge a criminal action. This does beg the question as to why,in the case linked to your original posts, SEBI agreed to a negotiated settlement with no admission or denial of anything.

Interestingly,your latter link refers to a defamation case, for making public statements that are untrue, or at least, do not have sufficient supporting evidence to show their truth.

For the record, Jhunjhunwalla's track record does seem to have a suspiciously high strike rate.

As we appear to have flogged Mr Jhunjhunwalla to a stalemate, I will leave you to respond to all the other matters I raised, which you have totally ignored.

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