Zee Entertainment Enterprises Limited has submitted a certificate from its statutory auditors, M/s. Walker Chandiok & Co LLP, confirming compliance with Regulation 169(5) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. This certification pertains to the receipt of consideration for the allotment of fully convertible warrants issued to Sunbright Mauritius Investments Limited. The auditors have reviewed the transaction, including bank statements and supporting documentation, and found no discrepancies in material respects.
Auditor Confirms Regulatory Compliance
Zee Entertainment Enterprises Limited has officially submitted a crucial certificate obtained from its statutory auditors, M/s. Walker Chandiok & Co LLP. This submission, made on August 31, 2026, to the Listing Department of BSE Limited, confirms the company’s adherence to the requirements of Regulation 169(5) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 (‘ICDR Regulations’).
Warrant Allotment Compliance
The certificate specifically addresses the allotment of fully convertible warrants to Sunbright Mauritius Investments Limited (‘SMIL’). It verifies that the consideration received for these warrants is in compliance with the stipulated regulations. The auditors’ report, dated August 28, 2026, indicates that the transaction details, including the receipt of funds from the allottee’s bank account and related documentation, have been reviewed. The auditors found that the company has complied with Regulation 169(4) of the ICDR Regulations regarding the receipt of consideration and has maintained the necessary records as of August 28, 2026.
Key Transaction Details
The statement accompanying the auditor’s certificate details the receipt of upfront consideration for the subscription price of Rs. 31.50 per warrant, representing 25% of the warrant issue price. The total upfront consideration received amounted to Rs. 75,78,66,879 for 2,40,59,266 warrants allotted to Sunbright Mauritius Investments Limited. The recipient’s bank details and the PAN of the allottee were also noted in the statement. The issuance of these warrants was approved by the Board of Directors on July 1, 2026, and subsequently by the members in an extraordinary general meeting on July 31, 2026.
Auditor’s Procedures and Conclusion
Walker Chandiok & Co LLP conducted its examination in accordance with the ‘Guidance Note on Reports or Certificates for Special Purposes’. Their procedures included obtaining certified copies of resolutions, the allottee’s PAN, allotment details, and bank statements. They verified that the consideration was received from the allottee’s bank account and relied on information provided by the management. Based on these procedures, the auditors concluded that, in all material respects, the details stated in the accompanying statement are in agreement with the company’s underlying books of accounts and other relevant records.
Source: BSE
