This is the least interested thing for sony, sony wants easy access to south. Movie channel trp going down, it doesn't matter how much good library one network has. Sony has alternative plan but it's zee which need someone. Look at the profit of 2 companies, you understand who is doing better.
Breaking ZEEL and Sony merger approved by ZEEL board; definitive agreements signed
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The proposed merger between Zee and Sony has encountered a legal hurdle as IDBI Trusteeship Services Limited (ITSL) appeals against the National Company Law Tribunal's (NCLT) approval of the deal. ITSL is contesting on grounds that Subhash Chandra, Zee's founder, breached a personal guarantee from 2019, seeking over Rs. 500 crore in repayment.
The National Company Law Appellate Tribunal (NCLAT) received ITSL's appeal on Friday, which specifically targets Chandra for not fulfilling a personal guarantee linked to Essel Infraprojects Limited (EIL) debentures amidst the merger process.
Despite these legal challenges, ZEEL has been proactive in its merger efforts with Sony, spending Rs 176.2 crore on integration activities. The company has also stated that it has settled disputes with other creditors, including IDBI Bank and IndusInd Bank.
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The National Company Law Appellate Tribunal (NCLAT) received ITSL's appeal on Friday, which specifically targets Chandra for not fulfilling a personal guarantee linked to Essel Infraprojects Limited (EIL) debentures amidst the merger process.
Despite these legal challenges, ZEEL has been proactive in its merger efforts with Sony, spending Rs 176.2 crore on integration activities. The company has also stated that it has settled disputes with other creditors, including IDBI Bank and IndusInd Bank.
Zee Entertainment faces legal challenge over Sony merger
Zee Entertainment faces legal challenge over Sony merger
in.investing.com
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Zee-Sony merged entity CEO dispute: Decision likely this week - Sony objects to Punit Goenka leading merged unit | ET NOW Exclusive
Zee-Sony merged entity CEO dispute: ET NOW has also learned that a special Merger Implementation Committee is also meeting this week to resolve the dispute. After resolving the CEO dispute, the Zee-Sony merger has to be finally approved by the I&B ministry and then filed with the Registrar of...
www.etnownews.com
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The prolonged Zee-Sony merger, spanning nearly two years, is likely to see a closure this week. Sources suggest that this week’s announcement will unveil the leadership of the merged entity.
Sony Group Corp is now pushing for its India MD and CEO, NP Singh, to take over as the CEO of the newly formed Zee-Sony entity. This suggestion, according to them, is prompted by strict corporate governance norms in Japan and the US.
Sources close to the matter indicate that Sony may stick to their new proposal, given the fact that Goenka doesn’t have Securities and Exchange Board of India’s (SEBI) blessings even if the Securities Appellate Tribunal (SAT) has cleared him to takeover of as the CEO of the merged entity.
Sony Group Corp is now pushing for its India MD and CEO, NP Singh, to take over as the CEO of the newly formed Zee-Sony entity. This suggestion, according to them, is prompted by strict corporate governance norms in Japan and the US.
Sources close to the matter indicate that Sony may stick to their new proposal, given the fact that Goenka doesn’t have Securities and Exchange Board of India’s (SEBI) blessings even if the Securities Appellate Tribunal (SAT) has cleared him to takeover of as the CEO of the merged entity.
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