India's market regulator has issued a show-cause notice to Zee Entertainment Enterprises Ltd. and its leadership, reviving allegations of fund diversion and governance lapses. Bloomberg posted on X, highlighting that these issues previously disrupted the company's planned merger with Sony. The notice is part of ongoing scrutiny into the company's financial practices and governance standards. Zee Entertainment has been under investigation for alleged financial irregularities, which have raised concerns among investors and stakeholders. The regulator's action underscores the importance of transparency and accountability in corporate governance, particularly in high-profile mergers and acquisitions. The outcome of this notice could have significant implications for Zee Entertainment's future business operations and its potential merger with Sony.