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A coram of judicial member HV Subba Rao and technical member Madhu Sinha pronounced the verdict today, dismissing all objections made by creditors.

This order by the Mumbai bench, headed by H V Subba Rao and Madhu Sinha, will pave the way for the creation of a USD 10-billion media company.

Get latest articles and stories on Latest News at LatestLY. Shares of Zee Entertainment Enterprises Ltd jumped 18 per cent on Thursday after the National Company Law Tribunal (NCLT) allowed its merger with Culver Max Entertainment. Latest News | Zee Ent Shares Jump 18 Pc as NCLT Approves Merger with Sony.

The merger of ZEE Entertainment and Sony has reached an advanced stage of completion, and the issues faced by promoters with Sebi should not become a problem for the company, debarred ZEEL MD Punit Goenka has said in a letter to employees, according to sources. Goenka, who along with his father Subhas Chandra, was denied any interim relief against a Sebi order that barred them from holding the position of director or key managerial post in any listed company, in the letter ZEE Entertainment Enterprises Ltd (ZEEL) staff asserted that the merger of Culver Max (earlier known as Sony Pictures Netw...

With the Securities Appellate Tribunal (SAT) restricting him from holding a directorial or key managerial position in a listed company, Goenka told the employees that the ZEEL board has constituted an interim committee of senior executives to ensure smooth operations and day-to-day functioning.