NCLT has stored the following date of listening to on this matter on March 12.
NCLT accepted a petition by a Zee Entertainment shareholder searching for the merger of its Indian entity with Sony
Zee Sony Merger: The National Company Law Tribunal (NCLT) on Tuesday accepted a petition by a Zee Entertainment shareholder searching for the merger of its Indian entity with Sony, which was referred to as off final week regardless of regulatory approvals.
The Mumbai-bench of NCLT issued a discover on a petition moved by Mad Men Film Ventures, a shareholder of Zee Entertainment Enterprises (ZEEL), directing Sony Pictures Network India, now generally known as Culver Max, to file a reply inside three weeks.
Also Read: Sony-Zee Merger Cancellation: Know Full Timeline Of Acquisition Saga
Mad Men Film Ventures on Tuesday filed the petition requesting each ZEEL and Sony to implement the merger because it was accredited by the NCLT in August 2023.
The tribunal didn’t conform to the arguments made by the counsel stating that the approval by NCLT was conditional and trusted varied situations, which can be fulfilled or waived off in writing.
NCLT has stored the following date of listening to on this matter on March 12.
Last week, the Sony Group Corp referred to as off the merger with ZEEL following a stalemate over who will lead the merged entity.
This merger may have in any other case created a USD 10 billion media enterprise within the nation.
The deal stipulated that the merger was to be accomplished earlier than December 21, 2023, together with regulatory and different approvals with a grace interval of 1 month to finish the transaction.
