Nearly a week before Sony Pictures Entertainment announced that it had called off its merger with Zee Entertainment Enterprises Ltd, ZEEL promoter Subhash Chandra reportedly wrote to Finance Minister Nirmala Sitharaman while accusing SEBI of operating with a motive to sabotage the deal.
In his letter on January 16, accessed by CNBC-TV18, Chandra wrote that he had also written to the chairperson of the Securities and Exchange Board of India. “I am not suggesting that SEBI should not investigate, if they have doubts of any kind. The company and all other people are cooperating in the investigation, even the department has also summoned an ex-director, questioning him for over four hours.”
