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<ul><li>According to <keyword id="353090" type="COMPANY" weightage="20" keywordseo="Zeel">ZEEL</keyword>'s statement to the BSE, <keyword id="6442405" type="PERSON" weightage="20" keywordseo="subhash-chandra">Subhash Chandra</keyword> has tendered his resignation, as the Non-Executive Director of the Company.</li><li>He has been appointed as <keyword id="193135" type="POSITION" weightage="20" keywordseo="chairman-emeritus">Chairman Emeritus</keyword> and 'will continue to guide the Board and Company's Senior Management'.</li><li><keyword id="123778" type="PERSON" weightage="20" keywordseo="R-Gopalan">R Gopalan</keyword> has been appointed as Chairman of the Board.</li></ul>Zee Entertainment Enterprises Limited (ZEEL) has announced the appointment of Subhash Chandra as Chairman Emeritus. It also announced that R Gopalan has been appointed as Chairman of the Board. In its statement to the Bombay Stock Exchange (BSE), ZEEL said, "Shri Subhash Chandra, vide his letter dated August 18, 2020 has tendered his resignation, as the Non-Executive Director of the Company, which was reluctantly accepted by the Board of Directors. In the mentioned letter of resignation, Shri. Chandra expressed a great sense of satisfaction, having witnessed a Company which he founded 27 years ago, emerge into a global media &amp; entertainment powerhouse. He also expressed his passion as an entrepreneur, to consistently work towards creating a better tomorrow and mentioned about his undivided attention needed for the same. " The statement further said that the Board had requested him to act as 'Chairman Emeritus' with effect from August 19, 2020 which was accepted by him. "In this advisory role, his rich experience and farsightedness will help the Company immensely and his services, guidance and mentorship will be availed from time to time. This position will not carry any remuneration. "As Chairman Emeritus, Shri. Chandra will continue to guide the Board and Company's Senior Management," read the statement. R. Gopalan was appointed as an Additional Director in the category of Independent Director on November 25, 2019. Gopalan, who has done Master of Public Administration &amp; Management from Harvard University, MA in Economics from Boston University and Bachelor's in Chemistry from Madras University, has a rich experience in economic and financial administration of the country with long stints in Ministry of Commerce and Finance Ministry, and in Manufacturing and Services Sectors. He has been appointed as the 'Chairman of the Board' with immediate effect, added the statement.

ZEEL appoints Subhash Chandra as Chairman Emeritus, R Gopalan as Chairman of the Board

<ul class="summary-list"><li>The south Indian village of Thulasendrapuram in the state of Tamil Nadu is celebrating after waking up to the news that <keyword id="180909" type="PERSON" weightage="60" keywordseo="Kamala-Harris">Kamala Harris</keyword> will become the Vice President of the United States.</li><li>Thulasendrapuram was the home of Harris' maternal grandfather, P.V. Gopalan. A rural community of 350 people, it is located 215 miles from the state capital, Chennai.</li><li>Kamala Harris is the <a href="https://www.businessinsider.com/kamala-harris-makes-history-first-woman-black-vice-president-elect-2020-11?r=US&amp;IR=TIR=T">first female, Black and South Asian Vice President.</a> She will be inaugurated on 20 January 2021. </li></ul>The Indian village of Thulasendrapuram in the state of Tamil Nadu is celebrating after waking up to the news that Kamala Harris will become the Vice President of the United States.Villagers lit firecrackers, shared sweets, and designed 'rangoli' patterns, activities which tend to be done on Diwali, the festival of lights which will take place on Saturday, according to <a href="https://apnews.com/article/election-2020-joe-biden-kamala-harris-electoral-college-india-d4eef836a2d67ac5d2417a49eea86a42">AP</a>.Thulasendrapuram was the home village of Harris' maternal grandfather, P.V. Gopalan, home to 350 people and is located 215 miles from the state capital, Chennai, where he moved many decades ago, <a href="https://www.abc.net.au/news/2020-11-09/kamala-harris-indian-ancestral-village-celebrate-her-win/12862008">ABC News</a> reported.Village councilor Aulmozhi Sudhakar said: "Kamala Harris is the daughter of our village. From children to senior citizens, each one of us is awaiting the day she will take the oath as the Vice President of the US," <a href="https://apnews.com/article/election-2020-joe-biden-kamala-harris-electoral-college-india-d4eef836a2d67ac5d2417a49eea86a42">AP</a> added.Tamil Nadu Food Minister, R Kamraj, led the community's special prayers in a temple where Harris' name is recorded after she donated in 2014, along with that of her grandfather. The latter contributed to the temple decades ago, according to <a href="https://www.aljazeera.com/gallery/2020/11/8/in-pictures-firecrackers-and-prayers-as-indians-celebrate-harris/">Al Jazeera</a>.The Vice-President Elect was born in Oakland, California, but visited Thulasendrapuram when she was five. She has previously recalled trips to see her grandfather, who was active in <keyword id="3658" type="COUNTRY" weightage="60" keywordseo="India">India</keyword>'s independence movement like many others of his generation, <a href="https://news.sky.com/story/us-election-results-people-in-kamala-harris-ancestral-village-in-india-celebrate-her-victory-12127347">Sky News</a> reported.Despite having a close relationship with Donald Trump, Indian Prime Minister Narendra Modi congratulated Harris' victory on <a href="https://twitter.com/narendramodi/status/1325145671742054400?s=20">Twitter</a> and said: "Heartiest congratulations @KamalaHarris! Your success is pathbreaking, and a matter of immense pride for not just your chittis (aunts), but also for all Indian-Americans."I am confident that the vibrant India-US ties will get even stronger with your support and leadership."Harris referred to her "chittis" in her nomination acceptance speech.Harris' mother, Shyamala Gopalan, was born in India and moved to the US in 1958 to study at the University of California before becoming a breast cancer researcher, according to <a href="https://www.theguardian.com/us-news/2020/nov/08/kamala-harris-south-india-joy-daughter-of-our-village">The Guardian</a>.She married a Jamaican, and they named their daughter Kamala, Sanskrit for 'lotus flower.' Harris' mother died of cancer in 2009 but is one of the people she talks about the most publicly.During her victory speech in Delaware on Saturday, Harris said her mother was "the woman most responsible for my presence here today," <a href="https://www.nytimes.com/2020/11/08/world/asia/kamala-harris-india.html">The New York Times</a> reported. "When she came here from India at the age of 19, she maybe didn't quite imagine this moment but she believed so deeply in an America where a moment like this is possible."Meanwhile, in Jamaica, Latoya Harris, 39, a policy analyst and second cousin of the Vice-President Elect told <a href="https://www.washingtonpost.com/world/asia_pacific/kamala-harris-india-vice-president/2020/11/07/e7842736-1ecb-11eb-ad53-4c1fda49907d_story.html">The Washington Post</a>: "To have one of our own reach one of the highest seats on the world stage is humbling and profound,"Kamala Harris is the <a href="https://www.businessinsider.com/kamala-harris-makes-history-first-woman-black-vice-president-elect-2020-11?r=US&amp;IR=TIR=T">first female, Black and South Asian Vice President</a> and will be inaugurated as Vice President along with President-elect Joe Biden at noon on 20 January, 2021.

Kamala Harris' Indian ancestral village celebrates her victory as she becomes Vice President of the United States

New Delhi, Nov 25 () Media mogul Subhash Chandra has resigned as chairman of his flagship company Zee Entertainment Enterprises Ltd (ZEEL), with immediate effect.
 While accepting his resignation, the board said this is in line with the Sebi Listing Regulations that prohibit chairperson of the board from being related to the managing director or the chief executive officer of the company, ZEEL said in a regulatory filing on Monday.
 The firm also said its board has been reconstituted and three new independent directors R Gopalan, Surendra Singh and Aparajita Jain have been appointed in lieu of two independent and one nominee directors of Essel Group, promoter of Zee Entertainment.
 The reconstituted board consists of six independent directors and two members from the Essel Group.
 "The reconstitution of the board was to strengthen and induct independent members with varied experiences to build value and provide a strong signal to the existing and new institutional investors who have recently reposed their faith in the intrinsic value of the company, by investing Rs 4,770 crore," ZEEL said in a regulatory filing.
 In September, the group had sold 11 per cent stake in ZEEL to Invesco-Oppenheimer fund for over Rs 4,224 crore and then retired debt worth Rs 4,000 crore.
 Atlanta-based Invesco already held 7.74 per cent stake in ZEEL since 2002.
 Chandra will remain the company's non-executive director, which he founded in 1992, it added.
 "The board accepted his resignation and noted that this is in line with the requirements of Regulation 17(IB) of SEBI Listing Regulations, which inter alia mandates that the chairperson of the board shall not be related to the managing director or the chief executive officer of the company," the firm said.
 His resignation comes at a time when debt-ridden Essel Group is looking to further divest promoters' stake in the company to repay the debts.
 Promoter and promoter group shareholding in the company went down to 22.37 per cent in the quarter ended September 30, from 35.79 per cent in the quarter ended June 30.
 The Subhash Chandra-led cash-starved Essel Group on November 20 said it is planning to sell 16.5 per cent stake in its flagship ZEEL to financial creditors to meet its loan repayment obligations.
 In a related development, ZEEL's board also accepted the resignation of two independent directors Neharika Vohra and Sunil Sharma, with effect from November 24 as part of the process.
 It has also accepted the resignation of its company secretary M Lakshminarayanan and appointed Ashish Agarwal.
 "In view of changes in the promoter shareholding in the company and reconstitution of the board (being intimated separately), M Lakshminarayanan, has resigned as chief compliance officer and company secretary and the key managerial personnel of the company, with effect from the close of business on November 25, 2019," it said.
 Gopalan, 67, is a former bureaucrat and the country's former finance secretary. While Surendra Singh, 63, is a retired police officer and Aparajita Jain, 39, is a contemporary art professional.
 "The board also intends to onboard members who would bring additional skill sets including digital transformation," said ZEEL adding the reconstituted board "conducted their first meeting today, which was chaired by Gopalan".
 ZEEL has reported a revenue of Rs 6,857.86 crore for 2018-19. KRH RKL HRS

Subhash Chandra resigns as chairman of Zee Entertainment Enterprises

<ul><li>The BSE Sensex was trading 0.57% higher at 38,746.09.</li><li>These are the top stocks that are buzzing the D-street today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market indices Sensex jumped over 200 points in early trade on Wednesday tracking positive cues from global markets and foreign fund inflows. The BSE Sensex was trading 0.57% higher at 38,746.09; while Nifty50 was up 0.56% at 11,448.95. SBI was the top gainer in the Sensex pack, rising around 2%, followed by L&amp;T, M&amp;M, ICICI Bank, Sun Pharma, Axis Bank, ITC and Bajaj Auto. On the other hand, HCL Tech, Nestle India, Tata Steel, Kotak Bank, and Infosys were among the top losers. These are the top stocks that are buzzing the D-street today. SBI shares up over 2% during the initial trade hours <div type="image" title="SBI August 19" msid="77627266" hostid="261"></div> State Bank of India shares gained over 2% after news surfaced that SBI is raising up to ₹10,000 crore in a bond sale. According to <a href="https://economictimes.indiatimes.com/markets/bonds/sbi-to-raise-up-to-rs-10000-crore-through-issue-of-tier-ii-bonds/articleshow/77625108.cms">reports</a>, it is this year’s first bond sale by the country’s biggest mass-lender and is expected to draw large domestic institutional investors, such as state-owned LIC and EPFO. Zee Entertainment shares gained over 4% <div type="image" title="Zee Enter" msid="77627333" hostid="261"></div> Despite posting 94.3 % fall in its net profit to ₹30.4 crore, Zee Entertainment shares were up 4%. The company has appointed Subhash Chandra as Chairman Emeritus and R Gopalan as Chairman of the board. Brokerage house Emkay believes that consistency and delivery will win back trust, they maintain ‘Hold’ rating with target at ₹190. Kotak also believes that this is a step in the right direction, but few more needed for further re-rating. Yes Bank shares advance 5% <div type="image" title="Yes bank August 19" msid="77627813" hostid="261"></div> Yes Bank shares soared 5% after the private sector lender repaid the central bank’s ₹35,000 crore out of the ₹50,000 crore of Special Liquidity Facility. It also divested more than 8% stake worth over ₹75 crore in CG Power and Industrial Solutions through open market transactions. Indiabulls shares opened 2% higher <div type="image" title="Indiabulls" msid="77627848" hostid="261"></div> Indiabulls was up 2% during the early trade hours after the Bengaluru-based realty firm Embassy Group signed an agreement to merge its various housing and commercial projects with Indiabulls Real Estate Ltd (IBREL) and take control of the merged entity. Embassy Group already has around 14% stake in Mumbai-based IBREL, and the same will increase to 45% after the merger of assets of these two companies. RIL shares up 1% after Netmeds acquisition <div type="image" title="RIL August 19" msid="77627935" hostid="261"></div> Reliance Industries shares gained nearly 1% after its subsidiary Reliance Retail Ventures Limited (RRVL) had acquired a majority equity stake in Vitalic Health Pvt Ltd and its subsidiaries (collectively known as Netmeds) for a cash consideration of approximately ₹620 crore. ICICI gained 2% in initial trading <div type="image" title="ICICI Bank August 19" msid="77627981" hostid="261"></div> ICICI Bank shares soared 2% after the Chinese central bank, People’s Bank of China acquired a very small stake in ICICI Bank through the recently closed ₹ 15,000 crore share sale by the country’s second-largest private sector lender. Uflex shares gained 6% <div type="image" title="uflex August 19" msid="77628006" hostid="261"></div> The packaging materials and solution company Uflex shares touched 52-week high after it reported over two-fold jump in its consolidated net profit to ₹196.54 crore for the first quarter ended June 30 Dilip Buildcon shares gained 4% <div type="image" title="Dilip August 19" msid="77628035" hostid="261"></div> Dilip Buildcon shares gained 4% after the company said it has received a letter of acceptance (LoA) for a new project worth ₹1,334.95 crore. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/markets/news/ril-icici-bank-zee-ent-ruchi-soya-dixon-tech-cg-power-muthoot-finance-top-stocks-to-watch-today/slidelist/77625323.cms" data-type="tilCustomLink">Top stocks to watch today— RIL, ICICI Bank, Zee Ent, Ruchi Soya, Dixon Tech, CG Power, Muthoot Finance and more</a> <a href="https://www.businessinsider.in/business/startups/news/with-reliance-buying-netmeds-and-pharmeasy-merging-with-medlife-amazon-and-flipkart-are-in-for-a-tougher-competition-than-they-would-like/articleshow/77625512.cms" data-type="tilCustomLink">With Reliance buying Netmeds and PharmEasy merging with MedLife, Amazon and Flipkart are in for a tougher competition than they would like</a>

Top stock movers on Dalal Street today —SBI, Yes Bank, Indiabulls, RIL, Uflex and more

New Delhi, Jan 29 () Market regulator Sebi on Wednesday imposed a total penalty of Rs 1 crore on GV Films Ltd and its five senior officials for manipulating issuance of global depository receipts (GDRs).
 In an order, the regulator said it has levied a fine of Rs 25 lakh on GV Films and Rs 15 lakh each on company's directors -- P Raghuraman, Mahadevan Ganesh, A Venkatramani and R Gopalan -- as well as president-corporate affairs V Subramonian.
 The officials held these positions in the firm at the time of violation of norms.
 Sebi, which conducted an investigation during March-April, 2007 to ascertain norms violation, found that GV Films issued 6.4 million GDRs for USD 40 million in April 2007 and all the GDRs were subscribed by only one entity, Whiteview Trading Corporation.
 The subscription amount for GDRs was paid by Whiteview after securing a loan from bank Banco Efisa S.A. 
 However, GV Films had pledged GDR proceeds to Banco bank against the loan given to Whiteview for subscribing GDRs, Sebi said.
 The GDR issue would not have been subscribed if GV had not given such a security against the loan taken by Whiteview.
 Sebi said the company did not make requisite disclosures to the exchange with regards to obtaining necessary approval of the shareholders for its proposed GDR issue and the related activities including providing security to Whiteview against the loan obtained by it from Banco Bank.
 By entering into such an arrangement, the entities led the investors in India to believe that the issuer company, GV Films, had got a good reputation in terms of investment potential because of which foreign investors successfully subscribed to its GDR, whereas in reality, the GDRs were subscribed by Whiteview with the help of the GV itself, Sebi noted.
 Regarding the officials, the regulator said that they facilitated the execution of such arrangement by passing a suitable board resolution and thus were liable for the act.
 By indulging in such activities, the company violated norms pertaining to the Securities Contract Regulation Act (SCRA), provisions of Prohibition of Fraudulent and Unfair Trade Practices (PFTUP) as well as Listing Agreement and the officials violated PFTUP norms.
 Earlier, in June 2019, the regulator had barred the company and Raghuraman from the markets for five years and other four officials for two years in the same case.
 In a separate order passed on Tuesday, Sebi levied a penalty of Rs 25 lakh on Sunshine India Land Developers and its four directors for raising Rs 30 crore from investors without complying with "public issue" norms.
 The directors facing penalty are -- Rajesh Kumar Dixit, Rabindra Kumar Gupta, Babu Lal Gupta and Santosh Kumar Sahu.
 During the investigation, Sebi observed that Sunshine India, which is an unlisted company, issued so called Optional Fully Convertible Debentures (OFCDs) and raised a total amount of Rs 29.29 crore from 23,757 persons during 2010-11.
 It was further observed that as the number of persons from whom funds were raised by the company through issuance of OFCDs is more than 49 persons, the issuance qualifies as a public issue and requires the company to comply with certain requirements under Issue of Capital and Disclosure Requirement (ICDR) Regulations.
 Under the ICDR norms, an issuer of securities is required to ensure that the offer document contains all material disclosures.
 "In the instant matter as offer document was not filed with Sebi, the issue of disclosing all material information in the offer document does not arise," the regulator said in its order.
 Sebi also observed that the the company has refunded the entire amount raised through OFCDs to the original investors in cash or through bank payments. AST SP
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ZEEL appoints Subhash Chandra as Chairman Emeritus, R Gopalan as Chairman of the Board

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Kamala Harris' Indian ancestral village celebrates her victory as she becomes Vice President of the United States

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Subhash Chandra resigns as chairman of Zee Entertainment Enterprises

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Top stock movers on Dalal Street today —SBI, Yes Bank, Indiabulls, RIL, Uflex and more

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Sebi levies Rs 1 cr fine on GV Films, officials in GDR manipulation case

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