Zee-Sony Merger: NCLT Mumbai agrees to hear Zee’s plea seeking implementation of mega media deal

The National Company Law Tribunal (NCLT) on Tuesday agreed to hear the Zee’s plea that is seeking the implementation of the mega media merger with Sony. The NCLT is set to hear the petition on March 12 next month. Sony has been asked to submit its reply in next two weeks.

The development comes day after Sony (now Culver Max) expressed its disappointment over the decision by Singapore tribunal’s emergency arbitrator. Sony had approached the Singapore International Arbitration Centre seeking a ruling to restrain Zee from moving with NCLT or any other corporate tribunal. However, the SIAC turned down the plea saying that it had no jurisdiction over the matter. The order was delivered on Sunday.