IDBI Bank files appeal against NCLT’s approval of Zee-Sony merger

Private lender IDBI Bank has filed an appeal against the NCLT order approving the merger of Zee Entertainment Enterprise Ltd (ZEEL) with Culver Max Entertainment, formerly Sony Pictures Networks India.

The lender has moved the National Company Law Appellate Tribunal (NCLAT) against the order.

Earlier, the Mumbai bench of the National Company Law Tribunal (NCLT) on August 10, 2023, approved the proposed merger, which would create the largest media entity in the country.