Zee withdraws its application for merger implementation from NCLT
By Staff Writer in Media News on Wednesday, 17th April 2024 at 6:39pmZEE Entertainment Enterprises Ltd. (ZEE) has made the decision to retract the merger implementation application that was submitted to the National Company Law Tribunal (NCLT), Mumbai bench.
According to the release, the application was initially filed by ZEE on January 24, 2024, in order to seek guidance on the implementation of the Composite Scheme of Arrangement involving ZEE, Culver Max Entertainment Pvt. Ltd., and Bangla Entertainment Pvt. Ltd.
The Company's choice to withdraw the implementation application was made following advice from the Board, after thorough consultations with legal experts. This move will allow the Company to focus on growth and explore strategic opportunities to enhance value for its shareholders. The Board is dedicated to reviewing the strategic acti...
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