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The two parties are yet to come to an agreement over Zee Entertainment Enterprises Ltd (ZEEL) MD and CEO Punit Goenka leading the merged entity after Sony expressed concerns after market regulator Sebi barred him from holding managerial posts in Zee
The fate of the $10 billion merger between Zee Entertainment Enterprises and Culver Max Entertainment, formerly Sony Pictures Networks India, is hanging by a thread, with the two parties unable to finalise an agreement as the end of the one-month grace period looms. The two parties are yet to come to an agreement over Zee Entertainment Enterprises Ltd (ZEEL) MD and CEO Punit Goenka leading the merged entity after Sony expressed concerns after market regulator Sebi barred him from holding managerial posts in Zee and any of the entities in a fund-diversion case.
Earlier on Monday, a report said Sony is working on sending termination notice to Zee before January 20
Over 71% of shareholders voted against appointing Rajesh Sahni, Virender Tagra, Aanchal David and Shankar Aggarwal at Friday’s EGM.
Dish TV India's shareholders rejected the appointment of four directors at its extraordinary general meeting, reducing the board's effective strength to three directors. Over 71% of votes were against the appointment of Rajesh Sahni and Virender Kumar Tagra as non-executive, non-independent directors. Special resolutions for Aanchal David's nomination as an independent director and Shankar Aggarwal's reappointment as an independent director were also defeated.