Zee Entertainment slips 7% amid reports govt to probe company’s books

Shares of Zee Entertainment Enterprises (ZEEL) were under pressure for the second straight day on Wednesday. The stock fell 7 per cent to Rs 229 on the BSE amid media report that the corporate affairs ministry has ordered an inspection of the financials of the company. The stock of broadcasting & cable TV operator has fallen 11 per cent in the past two trading days.

According to a Moneycontrol report, the ministry has ordered an inspection of financials of ZEEL following allegations of corporate governance lapses and after some independent directors quit recently.

The BSE said, the exchange has sought clarification from Zee Entertainment Enterprises with reference to news appeared in www.moneycontrol.com/ dated February 5, 2020 quoting “MCA orders inspection of Zee Entertainment’s books”