Will continue to vigorously arbitrate against Zee: Sony

Sony Group Corporation’s Indian unit on Monday said it was disappointed with the Singapore arbitrator’s rejection of its emergency plea to stay proceedings at the National Company Law Tribunal (NCLT) for enforcement of the now-junked merger with Zee.

Terming the decision as a procedural ruling, the company said, “We will continue to vigorously arbitrate the matter in Singapore in front of a full SIAC tribunal and pursue SPNI’s (Sony Pictures Networks India’s) right to terminate the merger agreement and seek a termination fee and other remedies.”