Arbitrator rejects Sony plea against Zee’s NCLT move

The Singapore International Arbitration Centre (SIAC) has denied an interim relief to Japanese major Sony in its plea against Zee Entertainment approaching the National Company Law Tribunal (NCLT) to implement the merger scheme.

In a filing to the stock exchanges on Sunday, Zee said that the emergency arbitrator had passed an award, denying application by Sony’s entities Culver Max Entertainment and Bangla Entertainment, saying it had no jurisdiction or authority to injunct Zee from approaching the NCLT.