New Delhi, Feb 27 (Reporter) Zee Entertainment on Tuesday said it has expanded the role of the Independent Advisory Committee, constituted last week, by renaming it as an “Independent Investigation Committee” and authorised it to examine all allegations raised by regulatory agencies and propose an action plan. After a detailed consultation with the Audit Committee and seeking inputs from Justice Satish Chandra (Chairman of the Independent Investigation Committee), the Board of ZEEL led by Mr. R. Gopalan, approved the Independent Investigation Committee and has advised it to thoroughly review the allegations levelled by regulators and other parties against the Company. The company last week had constituted the Independent Advisory Committee to arrest erosion of investors wealth and also take note of widespread negative public opinion about the company. The Committee will take the necessary measures to delve into the facts of the allegations, with the sole interest to protect the rights of the Company’s shareholders and other stakeholders, the company said in a release. As a result, the Board has approved various steps to be implemented by the Committee with immediate effect. The investigation committee shall fact check/review/ examine all allegations raised by the regulatory agencies against the Company, its Promoters and KMPs through a deep dive exercise. This would be done in order to safeguard the interest of the shareholders and other stakeholders of the Company. After completing the above mentioned exercise, the Committee will submit its report to the Board with its recommendations and suggest actions required to be undertaken by the Board. The Committee can also appoint/hire any other independent outside agency to assist the Committee to fulfil its charter. Mr. R. Gopalan, Chairman, ZEE Entertainment Enterprises Ltd. said, “It is pertinent for the Board to take concerted action in order to get to the truth of the matter in the allegations made against the Company and secure the interests of all its shareholders and other stakeholders. The Independent Investigation Committee chaired by Justice Satish Chandra, will further guide and empower us to take necessary actions in a timely manner, that are in the best interests of the Company’s future and all its shareholders and other stakeholders. Based on the recommendations of the Audit Committee and after seeking inputs from Justice Chandra, an independent assessment and fact-checking of all allegations will be ensured. The Board will also suggest the measures to be implemented in the interest of the Company, once the detailed report is presented by the Committee...////...