Sony-Zee's $10 billion merger gets greenlight
1 year, 4 months ago

Sony-Zee's $10 billion merger gets greenlight

Hindustan Times  

India paved the way on Thursday for a $10 billion media and entertainment powerhouse, giving Zee Entertainment and the Indian unit of Japan's Sony Group a key merger approval. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo Zee's shares were up 16.6% after the National Company Law Tribunal cleared the long-delayed deal to create a company which will be nearly 51% owned by Sony Pictures Networks India and 3.99% by Zee's founders. The Zee Group is among India's first privately owned television networks and industry executives say the Sony-Zee alliance stands to become the country's biggest industry player, with significant distribution and advertising muscle. Last year, Zee and Sony offered concessions such as pricing discounts to help ease regulatory concerns and received antitrust approval for the merged entity, which will compete with Walt Disney India and billionaire Mukesh Ambani-owned Network18.

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History of this topic

Zee Media Shares Jump 19% On Fundraise Plans; Key Details For Investors
2 months, 4 weeks ago

Zee Media Shares Jump 19% On Fundraise Plans; Key Details For Investors

News 18  

Shares of Zee Media Corporation surged 19 per cent to Rs 16.5 in Wednesday’s trade on the BSE, following the company’s announcement that its board of directors will meet on Friday to explore various fundraising avenues. The proposed fundraising will be subject to necessary regulatory approvals and specific terms and conditions that will be finalised during the meeting, Zee Media …

ZEE Sony settle merger dispute, withdraw claims
3 months, 3 weeks ago

ZEE Sony settle merger dispute, withdraw claims

Deccan Chronicle  

New Delhi: ZEE Entertainment Enterprises Ltd and Sony Pictures Networks India on Tuesday said they have settled their six-month-long dispute related to the failed USD 10-billion merger and have agreed to withdraw all claims against each other.As part of the "comprehensive non-cash settlement" between ZEEL and Culver Max Entertainment Pvt Ltd, both "have mutually agreed to withdraw all respective claims …

Zee seeks $90 million termination fee from Sony for calling off merger
6 months, 4 weeks ago

Zee seeks $90 million termination fee from Sony for calling off merger

The Hindu  

Zee Entertainment Enterprises has sought a termination fee of $90 million from the Sony Group for calling off the $10 billion merger deal in January this year. It has sought termination fees from two Sony Group entities — Sony Pictures Networks India, now known as Culver Max Entertainment, and Bangla Entertainment, according to a regulatory filing from Zee Entertainment Enterprises …

NCLT orders insolvency proceedings against Zee’s Subhash Chandra
8 months ago

NCLT orders insolvency proceedings against Zee’s Subhash Chandra

Hindustan Times  

The National Company Law Tribunal on Monday initiated insolvency proceedings against Subhash Chandra, founder and chairman emeritus of Zee Entertainment Enterprises Ltd., following a plea by Indiabulls Housing Finance Ltd. Chandra acted as a personal guarantor for a loan to Essel Group's Vivek Infracon Pvt, PTI Subhash Chandra launched Zee Entertainment, considered to be the pioneer of television entertainment industry …

ZEE withdraws from NCLT application to merge operations with Sony
8 months, 1 week ago

ZEE withdraws from NCLT application to merge operations with Sony

The Hindu  

April 17, 2024 02:00 am | Updated 02:00 am IST - New Delhi ZEE Entertainment Enterprises Ltd on Tuesday said it has withdrawn its application, seeking implementation of the merger with Sony, filed before the National Company Law Tribunal Mumbai bench. The company filed an application with the NCLT on January 24, 2024, seeking directions on the implementation of a …

Zee sees another exit
8 months, 2 weeks ago

Zee sees another exit

Live Mint  

New Delhi: Punit Misra, president of content and international markets at Zee Entertainment Enterprises Ltd, has quit the company. In a recent earnings call, the company said it is charting a three-pronged approach—cutting costs, reducing overlaps between businesses, and enhancing quality to regain margins—following the collapse of its merger with Sony Pictures Entertainment. A sound recalibration of the OTT cost …

ZEE board forms advisory panel to curb ‘erosion of investor wealth’
10 months ago

ZEE board forms advisory panel to curb ‘erosion of investor wealth’

Live Mint  

ZEE Entertainment Enterprises Ltd is establishing an advisory committee to help it protect the interests of stakeholders amid what it said were misinformation and rumours resulting in negative public opinion about the company. “The board has approved to constitute an independent advisory committee that will enable it to review and take cognizance of the widespread circulation of misinformation, market rumours, …

Sebi to question Zee top bosses Subhash Chandra and Punit Goenka: Report
10 months ago

Sebi to question Zee top bosses Subhash Chandra and Punit Goenka: Report

Hindustan Times  

The Securities and Exchange Board of India is set to question Zee Entertainment Enterprises' top management- founder Subhash Chandra an chief executive and managing director Punit Goenka- on the alleged fund diversion at the media firm, Economic Times reported citing two people in the know. In June last year, Sebi said that ₹200 crore from Zee were diverted through related …

SEBI finds $241 million ‘missing’ from Zee Entertainment's accounts: Report
10 months ago

SEBI finds $241 million ‘missing’ from Zee Entertainment's accounts: Report

Hindustan Times  

After its massive $10 billion merger with Sony Group was terminated, Zee Entertainment Enterprises Ltd is once again under the scanner of the Securities and Exchanges Board of India. Zee Entertainment is being probed by SEBI SEBI has alleged that more than $241 million is missing from the Zee Entertainment accounts, with no proper transaction history shown for the amount, …

Zee negotiating with Sony to revive scrapped merger deal? Media firm responds
10 months ago

Zee negotiating with Sony to revive scrapped merger deal? Media firm responds

Hindustan Times  

Zee Entertainment Enterprises Ltd clarified on Tuesday that reports of renewed talks with Sony to revive the scrapped merger deal were incorrect. Zee suggested its chief executive Punit Goenka to lead, but Sony disagreed, citing an ongoing market regulator probe into Goenka's financial conduct. In June last year, the Securities and Exchange Board of India accused the Mumbai-based media conglomerate …

Sony ‘disappointed’ with arbitrator's decision on Zee merger: ‘We will…’
10 months, 2 weeks ago

Sony ‘disappointed’ with arbitrator's decision on Zee merger: ‘We will…’

Hindustan Times  

Sony on Monday said it is "disappointment" with Singapore tribunal's emergency arbitrator's decision rejecting its plea to restrain Zee from approaching NCLT and asserted that it will "vigorously arbitrate" the matter in the international tribunal. An emergency arbitrator of Singapore International Arbitration Centre rejected a plea of Culver Max and BEPL seeking an order to restrain Zee Entertainment Enterprise Ltd …

Sony's plea seeking to restrain Zee over merger denied
10 months, 2 weeks ago

Sony's plea seeking to restrain Zee over merger denied

The Hindu  

Zee Entertainment Enterprises Ltd on Sunday said the Singapore Arbitration Centre has denied Sony Group's plea seeking to restrain the Indian media company from approaching the NCLT to enforce a merger that was called off by the Japanese company's Indian arm. "We wish to inform that the Emergency Arbitrator has passed an award dated February 4, 2024, denying the application …

Singapore emergency arbitrator denies Sony interim relief in Zee merger case
10 months, 2 weeks ago

Singapore emergency arbitrator denies Sony interim relief in Zee merger case

Live Mint  

The Singapore International Arbitration Centre on Sunday rejected Sony Group's emergency petition against Zee Entertainment Enterprises' plea before India's insolvency tribunal seeking implementation of the merger scheme with the Japanese media company's local unit. In its application, Sony asked the tribunal to prevent Zee from seeking legal remedies from the National Company Law Tribunal and other legal forums. Owing to …

Sony ‘predetermined’ to terminate merger deal: ZEE tells NCLT
10 months, 3 weeks ago

Sony ‘predetermined’ to terminate merger deal: ZEE tells NCLT

Live Mint  

Sony Pictures was ‘pre-determined’ to terminate the merger agreement with Zee Entertainment Enterprises Ltd, Zee has alleged in its petition filed before the National Company Law Tribunal. The dispute arises following Sony Pictures’ decision to call off the supposed $10 bn merger between itself and Zee. In its arbitration application before the SIAC, Sony demanded a $90 million termination fee …

What led to Zee-Sony $10 billion merger failure? Details here
10 months, 3 weeks ago

What led to Zee-Sony $10 billion merger failure? Details here

Live Mint  

Sony and Zee disagreed over more than 20 compliance issues, including the Indian firm's failure to dispose of some Russian assets and its $1.4 billion Disney cricket rights deal, before their India merger was scrapped, according to internal emails reviewed by Reuters. Disney Deal, Small Loan Reuters on Monday reported Sony's confidential termination notice which showed it accused Zee of …

Zee Vs Sony Arbitration Hearing In Singapore on February 1
10 months, 3 weeks ago

Zee Vs Sony Arbitration Hearing In Singapore on February 1

Deccan Chronicle  

Mumbai: The National Company Law Tribunal Mumbai on Tuesday accepted a petition by a Zee Entertainment shareholder seeking the implementation of a $10 billion merger of its Indian entity with Sony, which was called off last week despite regulatory approvals. The NCLT Mumbai has granted three weeks to Sony Pictures Networks India to file its reply to the petition filed …

ZEE-Sony merger: NCLT issues notice to Sony
10 months, 3 weeks ago

ZEE-Sony merger: NCLT issues notice to Sony

The Hindu  

The National Company Law Tribunal on Tuesday accepted a petition by a Zee Entertainment shareholder seeking the merger of its Indian entity with Sony, which was called off last week despite regulatory approvals. The Mumbai-bench of NCLT issued a notice on a petition moved by Mad Men Film Ventures, a shareholder of Zee Entertainment Enterprises, directing Sony Pictures Network India, …

Promoter family to increase stake in Zee to 26%, Subhash Chandra says: ‘Don’t want debt'
10 months, 3 weeks ago

Promoter family to increase stake in Zee to 26%, Subhash Chandra says: ‘Don’t want debt'

Hindustan Times  

Zee Entertainment founder Subhash Chandra's family will lift their stake in the media house to 26% from 4% currently, it was reported days after a merger of the company with Sony's India unit collapsed. We eventually want to go back to 26%, but it will take time.” Subhash Chandra set up Zee in 1992 and is now chairman emeritus at …

We’ll lift Zee stake to 26%; no plan to raise external funds: Subhash Chandra
10 months, 3 weeks ago

We’ll lift Zee stake to 26%; no plan to raise external funds: Subhash Chandra

Live Mint  

MUMBAI : Five years since Zee Entertainment persuaded lenders not to classify its debt as default, the media giant is facing pressure to oust its promoter family, after an aborted merger with Sony Pictures in India. In an interview, founder Subhash Chandra said his son Punit Goenka, who heads Zee, is the right person to lead it in the future …

Zee needs strategy shift to survive after Sony merger plan crumbles
10 months, 3 weeks ago

Zee needs strategy shift to survive after Sony merger plan crumbles

The Hindu  

The collapse of a planned $10-billion merger with Sony’s unit has heaped pressure on Zee Entertainment, one of India’s most popular TV networks, to pursue deals with new partners or focus on areas such as digital entertainment to revive its fortunes. A Zee-Sony India merger would have created a media powerhouse in the world’s most populous nation with 90-plus channels …

Sony-Zee Deal Fallout: What’s ahead for Sony India, the legal battles and more
10 months, 4 weeks ago

Sony-Zee Deal Fallout: What’s ahead for Sony India, the legal battles and more

Live Mint  

Culver Max Entertainment, the subsidiary of Sony Corporation earlier known as Sony Pictures India, plans to pursue "organic and inorganic" opportunities to fortify its position in the domestic media market, as per an internal email sent to employees, the Economic Times reported. Navigating Change for Future Growth, says Sony Singh also told employees the change in plans would usher the …

Sony-ZEE Merger Collapse: Subhas Chandra Blamed SEBI For Trying To Scuttle Deal In A Letter To FM
10 months, 4 weeks ago

Sony-ZEE Merger Collapse: Subhas Chandra Blamed SEBI For Trying To Scuttle Deal In A Letter To FM

ABP News  

Days before Sony Group pulled the plug on the $10-billion deal, Zee group founder Subhash Chandra had written to Finance Minister Nirmala Sitharaman, blaming SEBI for trying to "scuttle" the merger of its flagship media firm Zee Entertainment Enterprise with the Japanese firm and subsequent investment in the merged entity. Alleging market regulator SEBI is "acting with a predetermined mind", …

Zee asks Sony to immediately withdraw termination of merger, moves NCLT to press demand
10 months, 4 weeks ago

Zee asks Sony to immediately withdraw termination of merger, moves NCLT to press demand

The Hindu  

Zee Entertainment Enterprises Ltd. on Wednesday asked Culver Max Entertainment Pvt. Ltd. to immediately withdraw their termination of the Merger Co-operation Agreement and confirm that they would perform their obligations to give effect to and implement the Merger Scheme that had been sanctioned by the National Company Law Tribunal. In a filing to the stock exchanges, ZEEL asserted that Culver …

Sony vows growing India media presence in letter to employees
10 months, 4 weeks ago

Sony vows growing India media presence in letter to employees

Live Mint  

The head of Sony Group Corp’s India unit has sent a letter to its employees assuring them the company will thrive despite its aborted merger with Zee Entertainment Enterprises Ltd. but gave scant details on how it plans to fend off local competitors who are bulking up. The Japanese entertainment giant will turn its focus to content that can boost …

Sebi scuttled Zee’s merger with Sony: Subhash Chandra to finance minister
10 months, 4 weeks ago

Sebi scuttled Zee’s merger with Sony: Subhash Chandra to finance minister

Hindustan Times  

Mumbai: A week before Japan’s Sony Group Corp. called off the merger of its local unit with Zee Entertainment Enterprises Ltd, Subhash Chandra, founder-promoter of the Indian entertainment giant, wrote to Union finance minister Nirmala Sitharaman, accusing the country’s markets regulator of attempting to scuttle the $10-billion merger. On Monday, Sony sent a termination notice to Zee, pulling the plug …

ZEEL-Sony merger: SEBI probe reveals ₹1000 crore siphoned off, claims report
11 months ago

ZEEL-Sony merger: SEBI probe reveals ₹1000 crore siphoned off, claims report

Hindustan Times  

Troubles continue to mount for Zee Entertainment Enterprises Limited after the cancellation of its merger with Sony's India unit, after a probe by Securities Exchange Board of India has revealed that around ₹1000 crore have been siphoned from the deal, as opposed to the earlier figure of ₹200 crore, reported CNBC TV18. SEBI said that it is close to zeroing …

Sony-ZEE Merger: ZEE Spent Rs 366.6 Crore On Compliances For Its Merger With Japanese Firm
11 months ago

Sony-ZEE Merger: ZEE Spent Rs 366.6 Crore On Compliances For Its Merger With Japanese Firm

ABP News  

Zee Entertainment Enterprises Ltd spent Rs 366.59 crore on compliances till September 2023 for its now-failed merger with Sony, which called off the deal on Monday. The merged entity would have competed Disney Star with leading media houses as Star which called off merger and other rival OTT platforms such as Netflix and Amazon Prime. "Sony which has around 7-8 …

Sony, Zee parting - a loss for the firms, gain for viewers
11 months ago

Sony, Zee parting - a loss for the firms, gain for viewers

New Indian Express  

It was billed as the mother of mergers in the entertainment industry. Japan’s Sony Group on Monday called off its $10-billion merger with Zee Entertainment. Though the Sony notice says “the closing conditions to the merger were not satisfied” by Zee, it is well known that the impasse was mainly because of disputes on who will lead the merged entity. …

Sony Entertainment Calls Off Merger With Zee
11 months ago

Sony Entertainment Calls Off Merger With Zee

Deccan Chronicle  

Mumbai: Japanese Entertainment Giant Sony Group Corp on Monday formally communicated to Zee Entertainment Enterprises Ltd its decision to call off the merger with its India unit. Meanwhile Zee Entertainment said that it will take legal action against Sony Group for terminating the merger plans which would have created India's largest broadcasting company worth $10 billion. Sony Pictures Networks India …

Sony calls off merger with Zee, demands $90 million compensation
11 months ago

Sony calls off merger with Zee, demands $90 million compensation

The Hindu  

Sony Pictures Networks India, which is now known as Culver Max Entertainment Pvt. “ZEEL also held several deliberations and good faith negotiations with Culver Max and BEPL, with a view to consider an extension of the merger completion timeline, that did not materialise,” it said. “Basis the guidance received from the Board, ZEEL will take all the necessary steps to …

Sony calls off merger of its India unit with Zee Entertainment
11 months ago

Sony calls off merger of its India unit with Zee Entertainment

Hindustan Times  

Sony Group Corp. has formally communicated to Zee Entertainment Enterprises Ltd. its decision to cancel the merger with its India unit. Sony Pictures Networks India Private Ltd has been engaged in discussions in good faith to extend the End Date but the Discussion Period has expired without an agreement upon an extension of the End Date. The merger, announced over …

Sony terminates merger agreement with Zee Entertainment
11 months ago

Sony terminates merger agreement with Zee Entertainment

New Indian Express  

More than two years after it was first announced, Sony Pictures Networks India, a wholly-owned subsidiary of Sony Group Corporation has decided to terminate its merger with Zee Entertainment Enterprises Ltd.. ZEE Entertainment, in its Board Meeting held on Monday, took on record communications received from Sony and Bangla Entertainment purporting to terminate the Merger Co-operation Agreement and seeking a …

Zee-Sony Merger: Zee Dismisses Report, Says Committed To Merger; Shares Off Day's Low
11 months, 2 weeks ago

Zee-Sony Merger: Zee Dismisses Report, Says Committed To Merger; Shares Off Day's Low

News 18  

Zee Entertainment Enterprises on January 9 denied media reports of Sony calling off the mega $10 billion merger with the company. In a regulatory filing, Zee said, “Company is committed to the merger with Sony and is continuing to work towards a successful closure of the proposed merger.” The development comes after Bloomberg reported that the Sony Group is planning …

Zee shares plunge 14% as Sony plans to call off proposed merger
11 months, 2 weeks ago

Zee shares plunge 14% as Sony plans to call off proposed merger

Hindustan Times  

Shares of Zee Entertainment Enterprises Ltd. tumbled as much as 13.6% on Tuesday after Bloomberg News reported that Sony Group Corp. is planning to call off a merger with its India unit. Sony is looking to cancel the merger plans amid a standoff over whether Zee’s Chief Executive Officer Punit Goenka would lead the merged entity. “We don’t foresee Sony …

Zee, Sony yet to agree on merger conditions as deadline for extended negotiation nears
11 months, 2 weeks ago

Zee, Sony yet to agree on merger conditions as deadline for extended negotiation nears

The Hindu  

The fate of the $10 billion merger between Zee Entertainment Enterprises and Culver Max Entertainment, formerly Sony Pictures Networks India, is hanging by a thread, with the two parties unable to finalise an agreement as the end of the one-month grace period looms. The two parties are yet to come to an agreement over Zee Entertainment Enterprises Ltd MD and …

Sony planning to scrap merger of India unit with Zee Entertainment
11 months, 2 weeks ago

Sony planning to scrap merger of India unit with Zee Entertainment

Hindustan Times  

Sony is planning to scrap the merger of its Indian unit with Zee Entertainment, more than two years after the deal was announced, Bloomberg reported. Sony is planning to scrap the merger of its Indian unit with Zee Entertainment, more than two years after the deal was announced According to the report, the Japanese conglomerate is planning to call off …

ZEE seeks extension in December 21 deadline for merger with Culver Max
1 year ago

ZEE seeks extension in December 21 deadline for merger with Culver Max

The Hindu  

Media major Zee Entertainment on December 17 said it has sought an extension in the December 21, 2023 deadline of its proposed merger with Culver Max Entertainment, formerly known as Sony Pictures Networks India. Zee Entertainment Enterprises Ltd had approached Culver Max and Bangla Entertainment Pvt Ltd for an extension in the deadline to complete the proposed merger, which will …

Tribunal lifts ban on Zee's Goenka on holding key positions
1 year, 1 month ago

Tribunal lifts ban on Zee's Goenka on holding key positions

The Hindu  

The Securities Appellate Tribunal on Monday lifted the ban on Zee Entertainment top boss Punit Goenka to hold board positions in any of the four Zee Group companies, paving the way for him to resume the proposed role in the planned merger between ZEE and the Indian unit of Japan's Sony Group. India markets regulator, Securities Exchange Board of India, …

SEBI bars Subhash Chandra, Punit Goenka from from holding key positions in Zee
1 year, 4 months ago

SEBI bars Subhash Chandra, Punit Goenka from from holding key positions in Zee

Live Mint  

Capital market regulator Securities and Exchange Board of India on August 14 modified its order against Subhash Chandra and Punit Goenka, and barred them from holding the post of director or key managerial personnel in at least four Zee Group companies as well as in the merged entity of Zee Entertainment Enterprises and Sony Pictures Networks India till further directions. …

NCLT approves Zee-Sony merger, paves way for creation of $10 billion media giant
1 year, 4 months ago

NCLT approves Zee-Sony merger, paves way for creation of $10 billion media giant

The Hindu  

The National Company Law Tribunal on August 10 allowed the merger of Zee Entertainment Enterprises Ltd and Culver Max Entertainment. Both media houses approached the tribunal for sanctioning the merger after obtaining permissions from the National Stock Exchange, BSE and sectoral regulators such as the Competition Commission of India and the Securities and Exchange Board of India. This also included …

NCLT gives the nod to Zee Entertainment-Sony Pictures merger
1 year, 4 months ago

NCLT gives the nod to Zee Entertainment-Sony Pictures merger

Op India  

On Thursday, 10th August 2023, the National Company Law Tribunal approved the merger of Zee Entertainment Enterprises and Sony Pictures Networks India. Anticipated to bolster competitive strength against contenders such as Disney+ Hotstar and Amazon Prime Video, the merger aims to enhance market presence and secure a larger slice of the advertising sector. However, the NCLT’s endorsement signifies a pivotal …

Sony-Zee Merger: Deal To Go Through Whether I'm CEO Or Not, Says Punit Goenka
1 year, 6 months ago

Sony-Zee Merger: Deal To Go Through Whether I'm CEO Or Not, Says Punit Goenka

ABP News  

Punit Goenka, the chief executive of ZEE Entertainment, said the merger between ZEE and the Indian unit of Japan's Sony will go through, "whether or not" he is the CEO of the merged firm, quoting a newspaper article news agency Reuters reported. The markets regulator Securities and Exchange Board of India has imposed a one-year ban on Zee Entertainment's Chairman …

Sony Pictures to keep tracking developments in SEBI interim order against ZEE's Subhash Chandra, Punit Goenka
1 year, 6 months ago

Sony Pictures to keep tracking developments in SEBI interim order against ZEE's Subhash Chandra, Punit Goenka

The Hindu  

The SPE on June 21 said, it will continue to monitor developments that may affect the merger deal between its Indian arm and ZEEL. In a statement following reports over the fate of the deal in view of SEBI's interim order against Essel Group chairman Subhash Chandra and ZEEL MD and CEO Punit Goenka, SPE said it takes the SEBI …

Sony Takes SEBI Order On ZEE Founders 'Very Seriously', Monitoring Developments For Planned Merger
1 year, 6 months ago

Sony Takes SEBI Order On ZEE Founders 'Very Seriously', Monitoring Developments For Planned Merger

ABP News  

Sony Pictures Entertainment on Wednesday said that it is taking SEBI's interim regulatory order against ZEE Entertainment directors Subhash Chandra and Punit Goenka “very seriously,” and that the company will continue to monitor developments that may affect the merger deal with Zee Entertainment Enterprises Ltd. Last week, the Securities and Exchange Board imposed a ban on ZEE founder and Chairman …

Sony-Zee merger: NCLAT likely to hear Zee Entertainment’s petition today
1 year, 6 months ago

Sony-Zee merger: NCLAT likely to hear Zee Entertainment’s petition today

Live Mint  

Zee Entertainment Enterprises Limited has encountered a temporary setback in its ongoing legal battle against the National Company Law Tribunal's directive to reassess the initial approvals of the Sony-Zee merger. The National Company Law Appellate Tribunal has adjourned the hearing on ZEEL's petition and is likely to hear it on May 26. The dispute emerged when the NCLT instructed the …

Zee appeals NCLT’s Sony merger ruling
1 year, 7 months ago

Zee appeals NCLT’s Sony merger ruling

Live Mint  

Zee Entertainment Enterprises Ltd has moved the National Company Law Appellate Tribunal to contest an interim ruling by the National Company Law Tribunal ’s Mumbai bench related to its proposed merger with Sony Pictures Networks India Pvt. In its petition before NCLAT, Zee said the 11 May order of the tribual didn’t follow the principles of natural justice and due …

Zee, IndusInd Bank ink settlement pact to end dispute
1 year, 8 months ago

Zee, IndusInd Bank ink settlement pact to end dispute

Live Mint  

Zee Entertainment Enterprises Ltd on Wednesday informed the National Company Law Appellate Tribunal that it has entered into a settlement agreement with IndusInd Bank, inching a step closer to its deal with Sony Pictures. In February, the National Company Law Tribunal had admitted an insolvency petition against ZEE by IndusInd under Section 7 of the Insolvency and Bankruptcy Code. It …

NCLAT Stays Insolvency Proceedings Against Zee; Final Hearing On March 29
1 year, 9 months ago

NCLAT Stays Insolvency Proceedings Against Zee; Final Hearing On March 29

News 18  

The National Company Law Appellate Tribunal on Friday stayed the insolvency proceedings against media major Zee Entertainment Enterprises Ltd. Admitting a plea by ZEEL Managing Director and chief executive Punit Goenka, a two-member NCLAT bench stayed the order passed by the Mumbai bench of the National Company Law Tribunal. On Wednesday, NCLT admitted a insolvency plea against ZEEL by private …

IDBI Bank files insolvency application against Zee Ent
2 years ago

IDBI Bank files insolvency application against Zee Ent

Live Mint  

IDBI Bank on Thursday filed an insolvency application against Zee Entertainment Enterprises for initiating a corporate insolvency resolution process. Following this, on 13 September, the Delhi high court clarified that it had not restrained IndusInd Bank from taking Zee Entertainment to the insolvency court. Zee was the guarantor to the loan availed by Siti Networks from IndusInd Bank in terms …

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