Zee shareholder moves NCLT for merger deal; Sony gets 3 weeks to respond

The National Company Law Tribunal (NCLT) on Tuesday admitted a fresh petition filed by a Zee Entertainment Enterprises Ltd shareholder seeking enforcement of the now-cancelled merger deal between ZEEL and Sony.

The Mumbai bench of NCLT also directed Sony Pictures Network India, now known as Culver Max, to file a reply within three weeks and fixed the next date of hearing on March 12.

On January 21, Sony Group Corp (SGC), the Japanese parent company of Sony Picture Network India (SPNI) and BEPL, announced the termination of the USD 10 billion merger agreement with ZEEL, while seeking USD 90 million for breach of conditions besides initiating arbitration.