Zee draws line between CBI probe against Subhash Chandra and its business

Zee Entertainment Enterprises Ltd (ZEEL) has distanced itself from an Enforcement Case Information Report (ECIR) registered against its founder, Subhash Chandra, saying the proceedings concern him in his personal capacity and the promoter entities, and have no bearing on the company’s operations.

The clarification follows an ongoing Central Bureau of Investigation (CBI) probe into an earlier first information report (FIR) registered by LIC Housing Finance Ltd (LICHFL) over an alleged Rs 1,322-crore fraud involving Chandra and three others.