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Mumbai: The National Company Law Tribunal (NCLT) Mumbai on Tuesday accepted a petition by a Zee Entertainment shareholder seeking the implementation of a $10 billion merger of its Indian entity with...
The National Company Law Tribunal (NCLT) on Tuesday admitted a fresh petition filed by a Zee Entertainment Enterprises Ltd shareholder seeking enforcement of the now-cancelled merger deal between ZEEL and Sony. The Mumbai bench of NCLT also directed Sony Pictures Network India, now known as Culver Max, to file a reply within three weeks and fixed the next date of hearing on March 12. On January 21, Sony Group Corp (SGC), the Japanese parent company of Sony Picture Network India (SPNI) and BEPL, announced the termination of the $10 billion merger agreement with ZEEL, while seeking $90 million f...
The NCLT has scheduled the next hearing for this matter on March 12.
Sony had initiated proceedings while seeking USD 90 million from Zee as termination fee.
ZEEL shareholders have entered yet another petition in the NCLT seeking the enforcement of the now-cancelled merger with Sony Group.