Zee Media Corporation Limited has announced a key senior management appointment, strengthening its leadership team with the addition of an experienced media professional to drive new business initiatives.

Board Approval and Appointment Details

The Board of Directors of Zee Media Corporation Limited approved the appointment of Mr. Prasanna Raghav as Business Head - New Initiatives on March 12, 2026. The appointment, which designates him as Senior Management Personnel, was made following recommendations from the Nomination and Remuneration Committee and takes effect from March 13, 2026.

Professional Background and Experience

Mr. Prasanna Raghav brings over 20 years of comprehensive media and content business experience to his new role. His career spans multiple facets of the media industry, including journalism, branded content, strategy, and business management. He has demonstrated expertise in leading cross-functional teams, architecting major network intellectual properties, and delivering innovative content strategies under demanding timelines.

Raghav's journalism career began with prestigious publications, building a strong editorial foundation across leading media houses:

• The Times of India
• The Indian Express
• Oman Tribune
• Hindustan Times

Recent Leadership Role

Most recently, Mr. Raghav served as Senior Vice President & Head, Branded Content at Associated Broadcasting Co. Pvt Ltd (TV9). In this capacity, he was instrumental as a key member of the core team responsible for establishing the branded content vertical, demonstrating his ability to build new business segments from the ground up.

Educational Qualifications

Mr. Raghav possesses a robust academic background that combines journalism expertise with strategic business knowledge:

Regulatory Compliance

The appointment has been disclosed in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has provided all requisite details as mandated under the SEBI Master Circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

This strategic appointment reflects Zee Media Corporation Limited's commitment to strengthening its senior management team with experienced professionals who can drive new business initiatives and contribute to the company's growth trajectory in the evolving media landscape.

Zee Media Corporation Limited has received significant relief in a GST matter, with tax authorities dropping a demand cum show cause notice worth Rs. 1,11,36,600/-. The company disclosed this favorable development to stock exchanges on February 24, 2026, under Regulation 30 of SEBI listing regulations.

Favorable GST Order Details

The Office of the Assistant Commissioner, Central Goods and Services Tax, Division-1, Noida issued a favorable order dated February 23, 2026, dropping the proceedings against the company. This order specifically addresses the demand cum show cause notice bearing number 60/AE/AC/2025-26 dated September 19, 2025, which was originally issued by the Office of the Principal Commissioner, Central Goods and Service Tax, Noida.

Background of GST Demand

The original demand cum show cause notice was issued under Section 74 of the Central Goods and Service Tax Act, 2017, and Section 74 of the Uttar Pradesh Goods and Services Tax Act, 2017, read with Section 20 of the Integrated Goods and Services Tax Act, 2017. The tax authorities had alleged that the company availed inadmissible Input Tax Credit (ITC) and was accordingly liable to pay applicable interest on the inadmissible ITC amount, along with being subject to penal action.

Regulatory Compliance

Zee Media Corporation had initially informed the exchanges about receiving the demand cum show cause notice on September 23, 2025, in compliance with disclosure requirements. The company has now provided a follow-up disclosure regarding the favorable resolution of this matter. The disclosure includes all required details under Regulation 30 of LODR Regulations as per SEBI circulars.

Impact Assessment

According to the company's disclosure, there is no quantifiable monetary impact on the financial, operational, or other activities of the listed entity from this favorable order. The dropping of the demand notice eliminates the potential liability of Rs. 1,11,36,600/- along with associated interest and penalties that the company would have faced if the original allegations were upheld.

This development provides significant relief to Zee Media Corporation, resolving the GST matter that had been pending since September 2025 and removing the uncertainty surrounding the substantial demand amount and associated compliance issues.