Key Points
The Singapore International Arbitration Centre (SIAC) has denied emergency interim relief to Sony Group companies against Zee Entertainment Enterprises, stating that the National Company Law Tribunal (NCLT) is the appropriate forum...
We wish to inform you that the Emergency Arbitrator has passed an award denying the application for emergency interim relief filed by Culver Max and Bangla Entertainment and has determined that the Emergency Arbitrator has no jurisdiction or authority to injunct the company (Zee) from approaching the NCLT to implement the Merger Scheme since these are matters that fall within the statutory system and are for the NCLT to decide, Zee said in a stock exchange filing...
Sony Group companies requested SIAC to prevent Zee from seeking legal remedies from the NCLT or Indian or international courts until the arbitration proceedings are completed...
Zee and its shareholder Mad Man Film Ventures have filed pleas before the Mumbai bench of the NCLT seeking directions for Sony Group companies to implement the merger scheme...
Zee has requested the NCLT to direct Sony Group companies Culver Max and Bangla Entertainment to execute the composite scheme of arrangement and maintain the status quo concerning the merger scheme...
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Sony calls off merger of its India unit with Zee Entertainment: Report
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