Key Points
Zee Entertainment Enterprises Ltd (ZEEL) clarified on Tuesday that reports of renewed talks with Sony to revive the scrapped merger deal were incorrect.S)..
"We would like to clarify that the Company has not been involved in any negotiations or any other event," said Zee Entertainment in a stock exchange filing..
In June last year, the Securities and Exchange Board of India (SEBI) accused the Mumbai-based media conglomerate of orchestrating deceptive loan recoveries to mask private financing deals involving founder Subhash Chandra..
The market regulator further said that Chandra and Goenka 'alienated' the assets of ZEEL and other listed companies within the media conglomerate for the benefit of associate entities owned and controlled by them..
Despite Goenka receiving relief from an appellate authority against the SEBI order, allowing him to hold executive roles, Sony continued to view the ongoing probe as a significant corporate governance concern..
You might be interested in
Sebi bars Chandra, son Punit from holding key posts
12, Jun, 23The interim order has come at a time when the company is seeking regulatory approvals for a merger with Sony Pictures Networks India
Sony Group says Zee-Sony merger to take a few more months: Report
29, Sep, 23The Zee-Sony merger was approved by National Company Law Tribunal (NCLT) on August 10 this year, dismissing objections from various creditors to Zee.
SAT admits appeal by Subhash Chandra, Punit Goenka against Sebi order, next hearing on June 19
15, Jun, 23The Securities Appellate Tribunal (SAT) on Thursday admitted appeal by Essel Group chairman Subhash Chandra and Zee Entertainment Enterprises Ltd MD and CEO Punit Goenka challenging the Sebi interim order that barred them from holding the position of a director or key managerial personnel in any listed company.
Zee's plea against Sebi order: SAT adjourns hearing
27, Jun, 23The Securities & Exchange Board of India (Sebi) argued its action was not based on any prejudice towards Chandra and Goenka, but a necessary step against the promoters of Zee Entertainment Enterprises Ltd to protect investors and other stakeholders.
Sebi scuttled Zee’s merger with Sony: Subhash Chandra to finance minister
24, Jan, 24Chandra said Sebi has been acting with a predetermined mind, and sought the minister’s intervention to safeguard minority investors.
Zee-Sony merger: NCLAT sets aside NCLT order directing bourses to reconsider approval
26, May, 23The National Company Law Appellate Tribunal (NCLAT) on Friday set aside an NCLT order which had directed bourses NSE and BSE to review the grant of NOC to the merger between Zee Entertainment and Culver Max Entertainment (earlier known as Sony Pictures Networks India), reports said. Earlier this month, Japanese conglomerate Sony Group Corporation Chairman and CEO Kenichiro Yoshida said he expects the merger to be complete within the first half of this fiscal.
Zee-Sony merger failure a headache for Punit Goenka as a familiar threat looms
26, Jan, 24After the termination of merger agreement with Sony Pictures, Zee Entertainment faces a new threat thanks to its low promoter holding. A low promoter holding could expose the company to a hostile takeover risk, especially if institutional investors seek an exit. The company witnessed similar worries back when Invesco raised concerns.
'Acting with predetermined mind': Before Zee-Sony merger collapse, Subhash Chandra wrote to FM, slammed Sebi's role
25, Jan, 24Zee group founder Subhash Chandra blames Sebi for attempting to 'scuttle' the merger with Sony India, in a letter to Finance Minister Nirmala Sitharaman.
Zee Entertainment’s shareholders huddle to explore options, might seek Sebi intervention
22, Jan, 24As part of its ongoing investigation against key management personnel of Zee Entertainment Enterprises Ltd (ZEEL), including CEO and MD Punit Goenka, SEBI has questioned some former directors regarding their steps to protect minority shareholder rights amid the failed Sony merger.
NCLT gives nod to Zee-Sony merger
11, Aug, 23India Business News: Mumbai: A company law tribunal has approved the merger between Zee Entertainment Enterprises (Zee) and Sony Pictures Networks India (Sony), paving the.