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No links with alleged transactions: ZEEL, Dish TV

In a letter to stock exchanges NSE and BSE on Sunday, the two entities issued further clarification on communication made last Friday

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Essel Group companies ZEE Entertainment Enterprises Ltd (ZEEL) and Dish TV India Ltd have reaffirmed that they have had no dealings whatsoever with Nityank Infrapower and Multiventures Ltd, as reported by a media platform.

In a letter to stock exchanges NSE and BSE on Sunday, the two entities issued further clarification on communication made last Friday. In the earlier letter, Essel Group had clarified that Nityank, which is under the Serious Fraud Investigation Office's (SFIO) scanner for questionable demonetisation deposits, is an independent company and does not belong to Essel Group.

The group also stated that all of SFIO's queries about demonetisation deposits had been directed to Nityank and that the information and documents it sought relating to certain transactions had been provided.

"As the letter reads, since all information sought by SFIO has been provided by Essel Group entities and no further information has been subsequently sought, the matter stands closed for Essel Group entities," the company said on Sunday.

Dish TV said, "In response to communication received by the company in July 2018 from SFIO, seeking information relating to Nityank Infrapower and Multiventures Ltd, while providing requisite information/replies including relating to scheme of arrangement for amalgamation of Videocon D2h Ltd with and into Dish TV India Ltd, the company had categorically denied having had any transaction with Nityank and also confirmed that Nityank is an independent entity and does not belong to Essel Group. Further, there was no reference to demonetisation in the query raised by SFIO."

ZEEL and Dish TV said the media reports alleging involvement of Essel Group entities in the SFIO investigation against Nityank were driven by a malicious intent, and that legal action was being initiated in the matter.

"Essel Group has also filed a legal case against the media platform which has maliciously attempted to establish a linkage between the SFIO's investigation and ZEE Entertainment Enterprises Ltd's promoters," the company said in a statement, adding that Essel Group has always maintained extremely high levels of corporate governance.

As a multifaceted business conglomerate, with a legacy of over 90 years, Essel Group is driven by a rich value system and all businesses are led with utmost integrity levels, keeping the customers' preferences at the epicentre, it said. ZEEL, an Essel Group Company entertaining over 1.3 billion people across the world has a rich legacy of over 26 years, it said.

MALICIOUS INTENT

  • ZEEL and Dish TV said the media reports alleging involvement of Essel Group entities in the SFIO investigation against Nityank were driven by a malicious intent, and that legal action was being initiated in the matter
     
  • “Essel Group has also filed a legal case against the media platform which has maliciously attempted to establish a linkage between the SFIO’s investigation and ZEE Entertainment Enterprises Ltd’s promoters,” the company said in a statement
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