ZEE Entertainment shares fell 6% today; here’s why – BusinessToday
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ZEE Entertainment shares fell 6% today; here’s why
ZEE Entertainment shares fell 6% today; here’s why
ZEEL share price today: Subhash Chandra is among ZEEL promoters, as of June 2026, as per data available with BSE. Following the development, the stock fell 5.07 per cent to hit a low of Rs 86.70 apiece.
Shares of ZEE Entertainment Enterprises Ltd (ZEEL) saw its shares falling 5 per cent in Monday’s trade as reports suggested an FIR was registered by CBI against founder Subhash Chandra for allegedly inflating his net worth to avail loans from the Life Insurance Corporation Housing Finance Limited (LICHFL), and later becoming a defaulter.
Subhash Chandra is among ZEEL promoters, as of June 2026, as per data available with BSE. Following the development, the stock fell 5.07 per cent to hit a low of Rs 86.70 apiece. The stock is up 9.22 per cent in the past six months.
As per a PTI report dated September 5, LICHFL alleged in its complaint, which is now part of the FIR, that Chandra submitted inflated his net worth to secure approval and disbursal of two loans totalling Rs 980 crore.
The complaint was relateed to a Rs 500-crore facility extended to Vasant Sagar Properties Pvt Ltd, with Pan India Infraprojects Pvt Ltd as co-borrower, and a Rs 480-crore facility sanctioned to Digital Subscriber Management and Consultancy Services Pvt Ltd, with Spirit Infrapower and Multiventures Pvt Ltd as co-borrower.
LICHFL was among the lenders that approached the National Company Law Appellate Tribunal (NCLAT) opposing a recent NCLT repayment plan that would allow creditors to recover only about Rs 6.5 crore from Chandra’s personal estate, against claims of roughly Rs 22,006 crore.
Earlier, a five-member special bench of the National Company Law Tribunal (NCLT) stayed the operation of the August 25 verdict passed by a single-member bench of the tribunal, which had allowed Chandra to settle his personal insolvency proceedings.
Chandra had earlier offered to pay Rs 6.25 crore to his creditors against claims of over Rs 22,000 crore.Essel Group, for whom the flagship is ZEE, made a foray into infrastructure – this included power transmission, road construction and solar energy – for which the promoters had pledged their shares of ZEEL. It transpired later that Chandra had provided personal guarantees or that he would be responsible for the repayments. That blew into a full-blown crisis leading to now lenders potentially losing 99.97 per cent of the receivables.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
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ABOUT THE AUTHOR
A financial journalist with over 18 years of experience in print and digital media, I cover India’s capital markets, focusing on stocks, IPOs, mutual funds, corporate earnings, and market trends. Currently with Business Today, I report on equities, corporate developments, fundraising activity, and the broader investment landscape, delivering timely, data-backed insights to investors and readers.
Previously, I worked with The Economic Times and Deccan Chronicle, covering business, markets, and corporate affairs. My experience spans breaking news, analysis, and long-form features, with a strong focus on financial markets and investment-related reporting.
I am on the go 24/7: Saying ‘Good Night’ to Dow Jones and ‘Good Morning’ to Gift Nifty comes naturally. Ask me about data and you’ll hear stories. Away from markets, I enjoy stargazing, astrophotography, reading about India’s neighbourhood, and playing video games.
Published on:Sep 7, 2026 10:59 AM IST
