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Claims made by Sony, including demand of $90-mn termination fee, not tenable: Zee Entertainment

Sony had last month terminated the merger agreement with ZEEL to merge its two Indian entities, which could have created a $10-billion media entity

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Stocks that will see action today: February 5, 2024 - The Hindu BusinessLine

Stocks that will see action today: February 5, 2024 - The Hindu BusinessLine
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Singapore Arbitration Centre rejects Sony's plea to restrain Zee from approaching NCLT: Best Media Info

Singapore Arbitration Centre rejects Sony's plea to restrain Zee from approaching NCLT: Best Media Info
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SIAC denies Sony's plea to restrain Zee from approaching NCLT for enforcing merger

The Singapore Arbitration Centre has denied Sony Group's plea to restrain Zee Entertainment Enterprises Ltd (ZEEL) from moving to the National Company Law Tribunal (NCLT) for enforcing a merger called off by Sony. The Emergency Arbitrator ruled it lacked jurisdiction to issue such an order. Sony terminated the merger agreement with ZEEL last month, citing unsatisfied conditions. ZEEL filed a petition before NCLT to implement the merger, and Sony initiated arbitration proceedings claiming a USD 90 million termination fee. The denial by the Singapore Arbitration Centre allows ZEEL to proceed with its NCLT application for the merger scheme.

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Sony's plea seeking to restrain Zee over merger denied

Sony's plea seeking to restrain Zee over merger denied
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SIAC denies Sony's plea to restrain Zee from approaching NCLT for enforcing merger

SIAC denies Sony's plea to restrain Zee from approaching NCLT for enforcing merger
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NCLT Rejects Objection By Amazon Orders Insolvency Proceedings Against Future Retail

Bank of India's plea to initiate insolvency resolution proceedings against indebted Future Retail Limited accepted by National Company Law Tribunal, , Insolvency and Bankruptcy Code (IBC), NCLT, future retail

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