Zee Founder in the clutches of SEBI

Subhash Chandra is a well-known businessman and media mogul who has made a significant impact on the Indian media industry. He is the founder of Zee News, a leading Indian news channel, and has been actively involved in the media industry for several years.

Over the past few months, Subhash Chandra has been making headlines due to his involvement in various projects and initiatives. Here are some of the latest news updates on Subhash Chandra and his business ventures:

1. Zee News controversy:
Recently, Zee News was embroiled in a controversy when it aired allegedly fake news related to the Jawaharlal Nehru University (JNU) protests. The channel claimed that the student protestors had insulted the Indian army by raising anti-India slogans. However, it was later found that the video was doctored and the slogans were never raised. This led to public outrage and several calls for action against the channel.

Subhash Chandra, who is the Chairman of Zee News, issued a statement apologizing for the incident and promising action against those responsible. He also resigned as a member of the Rajya Sabha, the upper house of the Indian parliament.

2. Essel Group stake sale:
The Essel Group, which is owned by Subhash Chandra, has been struggling with a high debt burden for several months. In order to reduce this burden, the group announced that it would sell a 16.5% stake in its flagship company, Zee Entertainment. The stake sale is expected to raise around Rs 11,000 crore ($1.5 billion).

Commenting on the stake sale, Subhash Chandra said that it was a difficult decision but necessary for the long-term growth of the company. He also assured that the group’s other businesses, including infrastructure, will continue to operate as usual.

3. Chandra Foundation:
Subhash Chandra is known for his philanthropic endeavors and has established several foundations and trusts to support various social causes. One such foundation is the Chandra Foundation, which aims to uplift the underprivileged and marginalized sections of society.

Recently, the foundation announced that it would fund the education of the children of Indian soldiers who were killed in action. The foundation will provide financial assistance for the higher education of these children, as well as offer mentorship and career guidance.

4. Entry into online gaming:
Subhash Chandra’s Essel Group has announced its foray into the online gaming industry with the launch of Playwin, an online gaming platform. The platform offers a wide range of games, including poker, rummy, and fantasy sports.

In a statement, Subhash Chandra said that the gaming industry has immense potential in India and the Essel Group is committed to offering a safe and secure platform for gamers. He also noted that the company plans to expand its gaming offerings in the coming months.

5. Mobile-based payment platform:
The Essel Group has also launched a mobile-based payment platform called OChash, which allows users to make digital payments and transfer money to other users. The platform is available on both Android and iOS devices and supports various payment options, including credit/debit cards, UPI, and e-wallets.

Subhash Chandra said that OChash is a step towards a cashless economy and will make digital payments more convenient and accessible for users.

In conclusion, Subhash Chandra continues to be a major player in the Indian media industry and is also venturing into other businesses and philanthropic initiatives. While there have been some controversies and challenges, he remains committed to the growth and development of his businesses and supporting social causes.