A Noida-based major media house is embroiled in a growing scandal after its newly appointed Chief Business Officer (CBO) allegedly diverted advertising contracts to a shell company linked to his live-in partner and a close associate. Agencies allege bypassing established agency partners. As per the findings and highly placed sources at the network, the CBO reportedly established “Synergist” (registered under his live-in partner’s and Friend’s name name) in February 2025—weeks after assuming his role.
GST records show the Noida-based entity (shell firm) is licensed for “news agency services” and “print media ad space sales” but lacks authorization for PR/advertising operations. An insider said that the CBO built a narrative to “giving chance” to new agencies and abruptly started questioning the old contracts. However, in name of giving chance, CBO redirected the deal to only one agency – Synergist/Aryavrat media. He even didn’t take a minimum guarantee of business. When sales team officials questioned the deal, he thretened sales people with his direct contacts to the Owner.
An Ahmedabad-based agency CEO, whose firm even received funding from Zee Network in 2023, called the arrangement a “sham transaction” designed to enrich the CBO’s inner circle. The CEO, speaking on the condition of anonimity, said that they have a years long relationship with the group, and they will be raising the case in front of management and consumer forum if needed.
Another PR major, based in Surat, said “Editor’s receiving kickbacks is nothing new, but an Editor registering a shell company, diverting ads to “his” company on preferred rates, is a scam of whole new level.
The agency CEOs have said to have spoken over a conference call where they have decided to stay in wait and watch position.
“Frankly speaking, we don’t think this is going effect much of our business. Even if someone has given contract to his family, it doesn’t mean the clients will move to him overnight,” said a highly placed official at Gurgaon placed Real-Estate PR firm. “However, the agencies’ confidence in the publication will surely go down. Advertisers will route their business to some other platform that has a better management and costing,” he added.
