Promoter family to increase stake in Zee to 26%, Subhash Chandra says
Subhas Chandra on Zee-Sony deal: Subhas Chandra said, “I have advised my immediate and extended family to increase their shareholding in Zee."
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Subhas Chandra on Zee-Sony deal: Subhas Chandra said, “I have advised my immediate and extended family to increase their shareholding in Zee."
The petition was filed after Sony Pictures issued a notice to Zee Entertainment terminating the $10 billion merger they had announced on December 22, 2021.
In a stock exchange filing, the company said it has initiated appropriate legal action to contest Culver Max and BEPL’s claims in the arbitration proceedings before Singapore International Arbitration Centre (SIAC).
ZEE asserted that Culver Max and BEPL were in default of their obligations to give effect to and implement the Scheme, sanctioned by the Hon’ble National Company Law Tribunal.
Zee Entertainment Enterprises (ZEEL) is back under the F&O ban list after a one-day reprieve. The company has approached the National Company Law Tribunal (NCLT) for guidance on implementing the merger scheme. Zee has also taken legal action to contest Culver Max and Bangla Entertainment Pvt. Ltds (BEPL) claims in arbitration proceedings at the Singapore International Arbitration Centre (SIAC). Additionally, Zee's MWPL was 100.4%, and the Indian benchmark indices, S&P BSE Sensex and Nifty, closed with declines.