Zee Entertainment gets NCLT nod for settlement with Sony India
By Staff Writer in Media News on Friday, 13th September 2024 at 8:24pmZee Entertainment Enterprises Ltd. (ZEEL) has received approval from the National Company Law Tribunal (NCLT) to withdraw its application related to the arbitration process for its merger with Sony Pictures Networks India, according to an official statement in ZEE's press release.
This resolution marks the conclusion of a nearly three-year legal dispute.
On Thursday, Zee announced in their release that the NCLT had agreed to the withdrawal of the scheme, effectively revoking the previous order issued on August 10, 2023, which had sanctioned the merger between ZEEL, Bangla Entertainment Private Limited (BEPL), and Culver Max Entertainment (CME).
In response to the NCLT approval, ZEEL's shares saw a 3.26 per cent rise, reaching Rs 139.15 per share on the BSE on Friday.
In August 2024,...
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