ZEE-Sony: NCLT to hear lenders’ plea against merger
The National Company Law Tribunal will be hearing the plea on January 12
The National Company Law Tribunal (NCLT) has decided to hear on January 12 requests from ZEE lenders against the Zee-Sony merger.
NCLT's Mumbai bench has allowed IndusInd Bank, Axis Finance and IDBI Bank to file applications for intervening in the proposed merger.
It has also asked the Registrar of Companies and Corporate Affairs Ministry's Regional Director to submit a report before the hearing.
Earlier, NCLT had asked ZEEL to conduct a meeting of equity shareholders of the company on October 14, 2022.
It is to be noted that the proposed merger has received approval from the BSE and the National Stock Exchange.
In December 2021, ZEEL and Culver Max Entertainment entered into an agreement to merge ZEEL with and into SPNI, combining their linear networks, digital assets, production operations and programme libraries.
