President of Zay Entertainment Enterprises (Zel) Emiritus Subash Chandra on July 3 has clarified that the promotional group will not collect debts, nor will it commit action to finance the proposed fund infusion of £ 2.237 in the company through orders.
Chandra made comments during the call for over 90 minutes with analysts and investors, which he described as part of the ongoing efforts to improve corporate governance and shareholders’ engagement.
“No, we do not take loans, nor do we promise any actions. The funds used are ours are renewed by entities related to promoter, who have returned to us,” Chandra told analysts and shareholders.
The planned investment of the promoter group has attracted a review by proxy-speaking companies, as it would increase Punnik’s shareholder and his family from 3.99 percent to 18.39 percent. Zel’s shareholders are due to vote for a special resolution between July 6 and July 9.
Zel was scheduled to receive £ 2,237.4 through preferential distribution of fully convertible arrest warrants, with the company proposing to issue 16.95 crowns for 132 pounds each, subject to shareholder approval.
The company said this capital infusion is part of a wider strategy to strengthen its financial base and encourage long -term growth, especially in content innovation and digital infrastructure. Management believes that fresh capital will help stabilize the balance sheet and support new initiatives in India’s entertainment sector, including digital first content and investment in the platform, aimed at creating a shareholder value.
Chandra has recognized the existing reserves of money at around £ 2,400, but stressed the need for additional capital to remain competitive.
According to reports, Chandra does not intend to wait for the entire 18-month period allowed to bring the order funds in order to bring the entire amount as early as possible. According to the terms of the order, 25 % of the funds are paid in advance, and the remaining 75 percent are due within 18 months.
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