Indian Accounting Research Analyst, Trudence Capital Advisors

Nitin Mangal

Indian Accounting Research Analyst

Trudence Capital Advisors

Trudence Capital Advisors Private Limited is a SEBI-registered Research Analyst, holding SEBI registration number INH000015747. Our firm is dedicated to providing independent and unbiased research on Indian mid to large-cap companies. Trudence Capital is known for its counter-consensus views, with a focus on forensic research and on-ground primary investigations. Our research approach is thorough, involving detailed analysis of accounting practices and governance, alongside extensive channel checks.

Independent & Unbiased Research

Forensic Accounting

Zee Media Corporation / Forensic Accounting

The Zee group has arguably been a frontliner news for most of the past week. Led by Subhash Chandra Goenka's Essel Group, Zee companies have been bearing a brunt recently of several potential malpractices. We had already saw how shareholder activism has gained prominence in the country through <a href="https://www.smartkarma.com/insights/vedanta-delisting-failure-the-upsurge-of-shareholder-activism-in-india" target="_blank" data-smartkarma-citation="insights:44110" rel="noopener">Vedanta Delisting Failure: The Upsurge of Shareholder Activism in India?</a> and <a href="https://www.smartkarma.com/insights/jspl-shareholder-activism-gains-credence" target="_blank" data-smartkarma-citation="insights:51954" rel="noopener">JSPL- Shareholder Activism Gains Credence</a>. 
Latest shareholder activism surrounding the group especially <a href="https://www.smartkarma.com/entities/zee-entertainment-enterprises" target="_blank" data-smartkarma-citation="entities:19466:1" rel="noopener">Zee Entertainment Enterprises (Z IN)</a> was another high-profile case, but a more salty one compared to earlier examples, mainly because of the suddenness and the underlying reasons. The shareholder activism and non-tolerance of the investors was one of the key reasons which possibly triggered the merger. 
Through the shareholder activism it is evidently known that the shareholders are of the opinion of not having promoters and related management boss the company. In this insight, we do not dwell on the recent activism and related story of Zee Entertainment, but a hidden skeleton pertaining to <a href="https://www.smartkarma.com/entities/zee-media-corporation-ltd" target="_blank" data-smartkarma-citation="entities:8000:1" rel="noopener">Zee Media Corporation (ZEEN IN)</a>. which has a plausible connection to the promoters.
The reason why this is important is that Zee Media  is another prominent group company and according to some media articles, Zee Media might be one of the next companies in which promoters might face ire in form of activism.

The Zee group has arguably been a frontliner news for most of the past week. Led by Subhash Chandra Goenka's Essel Group, Zee companies have been bearing a brunt recently of several potential malpractices. We had already saw how shareholder activism has gained prominence in the country through Vedanta Delisting Failure: The Upsurge of Shareholder Activism in India? and JSPL- Shareholder Activism Gains Credence. 
Latest shareholder activism surrounding the group especially Zee Entertainment Enterprises (Z IN) was another high-profile case, but a more salty one compared to earlier examples, mainly because of the suddenness and the underlying reasons. The shareholder activism and non-tolerance of the investors was one of the key reasons which possibly triggered the merger. 
Through the shareholder activism it is evidently known that the shareholders are of the opinion of not having promoters and related management boss the company. In this insight, we do not dwell on the recent activism and related story of Zee Entertainment, but a hidden skeleton pertaining to Zee Media Corporation (ZEEN IN). which has a plausible connection to the promoters.
The reason why this is important is that Zee Media  is another prominent group company and according to some media articles, Zee Media might be one of the next companies in which promoters might face ire in form of activism.

India

Zee Media Corporation Limited operates in the media industry. The Company's programming covers all genres, such as news, social service programming, entertainment and sports.

Zee Media Corporation (ZEEN IN)

Zee Media: Is There a Hidden Skeleton?

After what happened with Zee Entertainment, Zee Media (another promoter entity) could face brunt of activism especially given that there is another...

Nitin Mangal