Zee-Sony: NCLAT adjourns hearing on IDBI Bank, Axis Finance petitions
The case will now be heard on October 31
The National Company Law Appellate Tribunal (NCLAT) has adjourned the hearing for petitions filed by IDBI Bank and Axis Finance against the Zee-Sony merger, media networks have reported.
The case will now be heard on October 31.
In the last hearing on October 12, ZEEL had asked the tribunal not to pass orders saying Axis Finance did not have the "locus to file such a plea".They also said IDBI's case was based on a different set of facts.
Axis Finance had earlier said that the approval for the merger is a “contravention" of a regulatory order against Punit Goenka, former MD & CEO of Zee Entertainment Enterprises Ltd.
