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The media mogul behind India’s biggest television network is battling to restore confidence in his businesses after an online news site reported that Subhash Chandra’s Essel Group has links to a company that’s being probed by fraud investigators.
It began Friday, when a report by the Wire sent all of Essel’s seven listed units plunging, including a record 27 per cent tumble at Chandra’s flagship TV broadcaster, Zee Entertainment Enterprises Ltd. A barrage of denials and statements from the conglomerate since helped Zee and its two affiliates recover some of their losses on Monday, while the remaining Essel units continued to
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