Zee-Sony deal: ZEE withdraws merger implementation application from NCLT

The Board of Zee Entertainment Enterprises on Tuesday decided to withdraw the merger implementation application filed before the National Company Law Tribunal (NCLT), Mumbai Bench.

On January 24, Zee had filed the merger agreement seeking directions on implementation of the merger between Zee and Sony India units — Culver Max Entertainment Pvt Ltd, and Bangla Entertainment Pvt Ltd.

In a statement, Zee said the decision to withdraw the implementation application will enable it to aggressively pursue all its claims against Sony in the ongoing arbitration in Singapore.