Zee Entertainment Enterprises Ltd (ZEEL) has denied news reports about the company’s alleged Rs 2,000 crore fund fraud. The company claims it as incorrect and false in a recent statement.
The company’s spokesperson stated, “The reports and rumours pertaining to accounting issues in the company are incorrect and false.”
“Pursuant to the SAT order, which granted relief to the current Key Managerial Personnel (KMP), the Company has been in the process of providing all the comments, information or explanation requested by SEBI, and has extended complete co-operation on all aspects,” added the spokesperson.
As per the reports, SEBI divulged that over Rs 2,000 crore could have been diverted from the company. The sum is roughly ten times greater than its initial projections.
Nevertheless, SEBI’s determined sum is not final and perhaps be altered once the regulator estimates the company leaders’ comments.
