SEBI or Taxman: Who Polices Brand Fees?

Corporate India is paying thousands of crores every year as ‘brand fees’ and royalties to parent or promoter entities — often without real justification.

Sucheta Dalal examines the explosive Vedanta–Hindustan Zinc case, where ₹4,100 crore was siphoned as brand royalty, sparking probes, refunds, and a Supreme Court case. But Vedanta is not alone — from Tata to Mahindra, JSW, Nestlé, Sony, and Jubilant, brand royalties have become a shadow channel for moving cash away from minority shareholders.

Will SEBI tighten its rules, or will it be left to the taxman to curb this opaque practice? Watch now to understand why brand royalties are one of the most controversial issues in Indian corporate governance.

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