Indian Accounting Research Analyst, Trudence Capital Advisors

Nitin Mangal

Nitin Mangal is a Research Analyst with more than 15 years of experience in Indian equities. He is Pioneer of Corporate Governance and Accounting Research in Indian Market and has successfully developed product for Institutional Investors named as "Analysis Beyond Consensus" during his association with Edelweiss Securities Ltd, Mumbai. Later during the career, he has worked with Veritas Investment Research Corporation, Canada as Asia Consultant covering Indian and US equities. He has been profiled by leading financial newspapers such as Wall Street Journal, Business Standard etc

Indian Accounting Research Analyst

Vedanta Delisting Failure: The Upsurge of Shareholder Activism in India?

JSPL- Shareholder Activism Gains Credence

Vedanta (VEDL IN): A Failed Delisting Will Now Pressure The Stock

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.

Zee Media Corporation

Zee Media: Is There a Hidden Skeleton?