India Observers

  Zee Entertainment Enterprises Limited (ZEEL) , a Mumbai-based media conglomerate, has been reportedly found with significant accounting issues amounting to around Rs 2,000 crore by the Securities and Exchange Board of India (SEBI).  SEBI  has identified a significant profit divergence in ZEEL’s income statements for the 2019–20 financial year, with the actual profit being around Rs 110 crore. This gap has raised concerns about ZEEL’s business practices and the need for transparency in loans, asset income, and dealings with other group entities. ZEEL has requested an explanation and corrective action from SEBI, as it has not fully complied with Indian accounting standards in its  financial statements . SEBI is keen to protect investor interests and has asked ZEEL to provide clarity on all discrepancies highlighted during the regulatory inspection. Further action is expected based on ZEEL’s response and corrective measures to align its money owed with regulations. Th...

FirstCry, a company that sells things for mothers and children online, has taken a big step towards selling its shares to the public. They filed a DRHP with SEBI, the market regulator.  This means they're getting ready to sell new shares and raise Rs 1,816 crore. BrainBees Solutions, which owns FirstCry, is doing this. They also plan to sell some old shares in an offer-for-sale, about 5.4 crore shares. Big investors like SoftBank and Premji Invest are planning to sell a part of their shares. SoftBank might sell 2 crore shares and Premji Invest about 86 lakh shares. FirstCry will use the money it gets to expand its business, both in India and abroad, and to improve its technology and marketing. They want to open new stores and warehouses in India.  They also have plans to grow in Saudi Arabia by opening stores and warehouses there. Besides, they'll put money into a company called Globalbees Brands and spend on marketing, technology, and buying other companies. In the last finan...

 SEBI has asked mutual funds not to advertise fake claims like assured returns, and misleading advertisements and to comply with the advertisement code. The Securities and Exchange Board of India (Sebi) has ordered mutual fund companies to stop using deceptive advertising, brochures, and presentations, claiming that the visuals used in these materials give the impression that investors will receive fixed returns on their investments. It has come to our attention that some Asset Management Companies are engaging in advertising practices that do not follow the Advertisement Code as set forth in the SEBI (Mutual Funds) Regulations, 1996, in both letter and spirit “said Sebi. According to the regulator, there have been instances where MFs have distributed pamphlets and brochures that show future returns based on projections and assumptions.  Additionally, it stated that investors are likely to overlook disclaimers and assumptions that are in the fine print. According to the Sixth...