Sony Group has reportedly moved to the NCLT and challenged the Zee Entertainment s plea on merger enforcement. The NCLT is set to hear the plea on March 12
Zee is revisiting plans as a standalone company and is focusing to enhance its performance in the coming quarters after the company posted a below performance in Q3FY24
In its fresh plea on Friday, Mad Men Film Ventures sought the Mumbai bench of NCLT's urgent intervention to restrain Sony Pictures India Networks from proceedings against the tribunal's order dated August 10 as the matter is scheduled for hearing on March 12.
Sony Group and Zee Entertainment Enterprises called off their merger deal due to a disagreement over the managing director and chief executive position. The deal termination notice from Sony claimed multiple breaches by Zee, including a decline in operating profit, non-disclosure of investigations, and signing a deal with Disney Star without Sony s consent. Zee defended its actions, stating that there were sports-related exceptions and questioning Sony s motives for raising issues late in the deal.