Zee's latest filing, dated August 29, 2024, requests the NCLT to recall this order, signaling potential hurdles in the merger process with Sony
The Mumbai bench of the NCLT has noted that the scheme appears 'fair and reasonable' with no violations of any provisions of law or public policy
As per media reports, both RIL and Disney are not keen on making changes to their cricket broadcast rights
According to experts, the Disney-Reliance merger could drive up ad rates for major properties like IPL and the World Cup, but its impact on general entertainment content may be limited
Even if the NCLT grants its approval, the Scheme cannot be implemented unless all regulatory clearances, including those from the CCI, MIB, and others, are secured
The company said it is in the process of obtaining requisite approvals for completion of the merger
The order has been passed on an application filed by Dr. Chandra seeking replacement of the Resolution Professional appointed by the NCLT
The next step is to secure over 75% votes from stakeholders in favour of the merger; more approvals needed from NCLT, regulatory bodies and stock exchanges, say experts
The Walt Disney Company recently said that it is expecting to close the merger in the first half of 2025
As per the plan, Sapphire Media Limited will pay Rs. 261 crores to secured and operational creditors as against the total claims of Rs. 947.5 crore
Chandra had argued that NCLT cannot rule on an individual's insolvency
Also, the withdrawal of the plea will mean one less litigation for ZEEL which might help the company in the long run, say experts
The decision will enable the company to continue to aggressively pursue all its claims against Sony in the ongoing arbitration proceedings at the SIAC and in other forums
The hearing was earlier moved to February 21 after IPRS informed NCLT that its plea against the tribunal's February 9 order is pending judgment by the NCLAT
The case will be taken up on March 12, according to a news report
According to legal experts, Sony will have the option to file an appeal before NCLAT against the decision of NCLT
ZEEL shareholder Mad Men Film Ventures filed a petition on Tuesday seeking that both ZEEL and Sony complete the merger
Legal experts say if NCLT allows ZEEL’s plea, it can save the media conglomerate from multiple legal issues and strengthen its standing in the market
Guest column: Basant Maheshwari, Co-Founder and Partner of Basant Maheshwari Wealth Advisers LLP, says that the ZEE-Sony merger is the first instance in India of a deal failing, despite NCLT approval
As the fate of the Zee-Sony merger remains uncertain, we take a look at the various key episodes in the journey so far
The matter will be heard after four weeks, a bench led by Chief Justice DY Chandrachud has said
The tribunal has reportedly given its nod to a joint proposal by luggage manufacturer Goblin India and financial services firm Khandwala Finstock to acquire the bankrupt network
The application challenges the legality of the Jagran Media board meeting and all resolutions passed therein
The Allahabad bench of NCLT has adjourned the matter for October 31, 2023, for further hearing
Next hearing scheduled for October 4
Axis Finance is one of the lenders or creditors of Zee Entertainment Enterprises Limited (ZEEL) whose objections were dismissed by NCLT on August 10
The bank has approached NCLAT
ZEE and Sony together are expected to secure an audience of over 700 million in the TV and digital verticals, enhancing their market presence and share in advertising
The court reportedly said the merger should not be held to ransom by the case pending with the Securities and Exchange Board of India
The news agency has been going through financial distress and the resolution process aims to turn its fortunes for the better
The news agency has been going through financial distress and the resolution process aims to turn its fortunes for the better
The hearing has been listed for today
Post NCLT approval, the process shall take 2.5-3.5 months, states a report from Dolat Capital
ZEEL has informed the court that the scheme of arrangement between ZEEL and Sony has been approved by 99.9% shareholders
IndusInd Bank had approached NCLT, asking to initiate insolvency proceedings against Zee
NCLAT posited that Zee should have been heard by NCLT before directing both the exchanges to review the NOC, adding that there was no occasion for Zee to respond to concerns raised
The network is expected to contest that it did not have the opportunity to present its arguments
The exchanges have been asked to issue no-objection certificates before the next hearing on June 16
Wadia Group’s flagship venture Go First on Tuesday announced suspension of its operations
The company made the announcement in a regulatory filing
ZEEL CEO Punit Goenka has welcomed the decision taken by NCLAT, adding that the network remains committed to protecting stakeholder interest
The company, in a statement, said it is debt-free and believes in value creation for its stakeholders
The merged entity will be known as PVR-Inox
The National Company Law Tribunal will be hearing the plea on January 12
Raj Kamal Saraogi has been asked by the non-banking finance company, stating that Essel Mauritius' non-compete agreement with SPE Mauritius Investments is against an SC order of August 2022
IndusInd Bank has moved NCLT against the company over default
The Mumbai bench of NCLT passed this order after appellate body NCLAT ordered the tribunal to grant reasonable and sufficient opportunity to ZEEL to file its reply
ZEEL had moved NCLAT against NCLT's order dated October 5, directing the company to submit a reply to a petition filed by Invesco by October 7
NCLT will hear the case next on October 4.
This pertains to the insolvency proceedings against a firm belonging to The Pioneer group