Zee-Sony Merger: ZEEL seeks extension to the merger deadline

Zee Entertainment wrote to Sony Group Corp requesting an extension of the merger’s timeline.

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  • Storyboard18,
 | December 17, 2023 , 7:50 pm
In its suit filed in Delhi Sessions Court, ZEE had argued that the article published on 21st February 2024 by Bloomberg, was false and factually incorrect, with a pre-meditated and malafide intention to defame the Company. (Image source: Moneycontrol)
In its suit filed in Delhi Sessions Court, ZEE had argued that the article published on 21st February 2024 by Bloomberg, was false and factually incorrect, with a pre-meditated and malafide intention to defame the Company. (Image source: Moneycontrol)

Zee Entertainment Enterprises Limited (ZEEL) is seeking an extension to the merger deadline, initially set for December 21. ZEEL has written to Culver Max Entertainment Private Limited formerly known as Sony Pictures Networks India Private Limited) (CMEPL) and Bangla Entertainment Private Limited (BEPL), seeking an extension.

Read More: Anticipation builds for ZEEL AGM on December 16 as merger deadline looms

On December 15, The National Company Law Appellate Tribunal (NCLAT) refused to grant a stay on the merger of media giants Zee Entertainment Enterprises Limited (ZEEL) and Sony. The tribunal has however issued notice in the plea and listed the case for hearing on January 8. Axis Finance and IDBI bank had challenged the merger in the NCLAT.

Read More: National Company Law Appellate Tribunal denies stay on Zee-Sony merger

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