Essel Group, led by Subhash Chandra, aims to clear ₹1,500 crore debt by June. Positive talks with JC Flowers ARC ongoing. Assets like Dish TV, Zee Learn may be released upon payment. Seeking buyers for debt settlement.
Once India s largest DTH platform, Dish TV has been steadily losing ground due to competition in the market and a tussle between promoters led by Jawahar Goel and other investors including Yes Bank, which has now transferred its 24% shareholding to JC Flowers. Dish TV promoters own a 4% stake in the company.
Japanese media major Sony may call of the merger of its India unit with homegrown media conglomerate Zee Entertainment over a disagreement on who may ..
Hansoge Enterprises: According to industry estimates, around 59 hotels comprising 4,669 keys were signed by multiple hotel operators in the third quarter of 2023. In that quarter, the average daily rate rose 15.6% from a year earlier, resulting in a 15.1% increase in revenue per available room.
Bangalore s Hansoge Enterprises has sold a 175-room hotel near Bangalore International Airport, covering 1.5 lakh sq ft, for around Rs 150 crore to an ultra-high net worth individual. The property, set to be completed by end-2024, was previously held by JC Flowers, an Asset Reconstruction Company (ARC), the Trustee, and the Bank.