The Zee Entertainment logo.
Credit: Reuters Photo
New Delhi: An independent investigation committee constituted by the Board of Directors of ZEE Entertainment Enterprises Ltd on Wednesday submitted its report.
The report, submitted to the company's board, has not found anything adverse or untoward in its operations, ZEE Entertainment Enterprises Ltd (ZEEL) claimed in a statement, quoting the Chairman of the independent investigation committee.
In February this year, the Board of Directors of ZEEL appointed an independent advisory committee to review allegations levelled by the market regulator Securities and Exchange Board of India and other parties against the company.
The committee was chaired by Justice Satish Chandra, former Judge High Court of Allahabad, two independent directors of ZEEL and Chairman of the Nomination and Remuneration Committee.
According to ZEE, the committee noted that it has provided complete support and shared detailed responses with the regulatory authority.
"The Committee has also reviewed the matter that is already under adjudication with SEBI, and has stated that no further action is required by the Company," it said.
After this, the Board of ZEEL has advised the company to settle pending adjudication proceedings with Sebi in a time-bound manner, in the interest of the shareholders and all stakeholders of the company.