Key Points
Shares of Zee Entertainment Enterprises surged 5% to a 1-month high following news that the company has reached a settlement with IndusInd Bank, seeking withdrawal of the objection to its merger deal with Sony Pictures...
During a hearing in the National Company Law Appellate Tribunal (NCLAT) on Wednesday, Zee Entertainment said that it has made partial payment of dues to IndusInd Bank, following which the lender will withdraw its objection to the merger with Sony...
In February, the National Company Law Tribunal (NCLT) had admitted an insolvency petition filed by IndusInd Bank against Essel Groups listed companies, Zee Entertainment and Siti Network...
The insolvency plea by IndusInd Bank against Zee had raised questions over the smooth merger of the company with Sony Pictures, which was already delayed due to regulatory requirements..
Earlier this month, Zee Entertainment also reached a settlement with Indian Performing Right Society, following which, the latter withdrew the insolvency plea against the company...
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NCLT dismisses IDBI Bank's insolvency plea against Zee Entertainment
19, May, 23The National Company Law Tribunal on Friday dismissed IDBI Bank's insolvency plea against Subhash Chandra promoted Zee Entertainment Enterprises Ltd (ZEEL). ZEEL is in the process of a merger with Sony Pictures Network India (SPN). On December 22, 2021, ZEE and SPN signed a definitive agreement to merge the two companies. The proposed merger will see ZEE merging into SPN and, after closing, the merged company will be publicly listed in India.
Zee Entertainment, IndusInd Bank settle dispute over dues
29, Mar, 23Zee Entertainment Enterprises Ltd and IndusInd Bank Ltd told the NCLAT on Wednesday that the two companies have settled a dispute over dues of the media company. IndusInd Bank, in its plea, had claimed a default of Rs 83.08 crore against the media and entertainment firm promoted by Subhash Chandra.
Zee Entertainment requests Sony India to extend the deadline for merger
17, Dec, 23Zee-Sony merger: Zee Entertainment has sent a letter to Sony Group Corporation requesting an extension of the timeline of the merger of the two entertainment companies
Zee Entertainment refutes reports about termination of the Zee-Sony merger
09, Jan, 24India Business News: Zee Entertainment dismisses rumours about the termination of the $10 billion merger with Sony India. ZEEL is dedicated to ensuring the successful comp
Zee requests Sony to extend timeline to complete merger
17, Dec, 23In September, Sony had announced a delay in the merger, saying it expected completion 'within the next few months'; on Saturday, two independent directors were unable to secure re-appointment to the board of Zee
ZEE-Sony merger: Zee Entertainment shells out Rs 176 cr on proposed deal
28, Nov, 23Earlier this month it was reported that Sony had requested that Goenka let go of the position of MD and CEO of the merged entity till he gets cleared by market regulator Sebi.
Sony's claims regarding merger, termination fee not tenable: Zee Entertainment in Q3 report
13, Feb, 24In January, Culver Max Entertainment (previously Sony Pictures Network India) called off the $10-billion merger with ZEEL after it claimed that Zee failed to meet some financial terms of the deal and come up with a plan to address them.
Zee to repay IndusInd Bank dues
16, Mar, 23According to sources close to the development, the dues are expected to be cleared latest by Friday, following which formal announcements would be made.
Zee Entertainment set to repay IndusInd $10 million to wrap Sony deal
16, Mar, 23The settling of dues of about Rs 837 million 10 million to the lender could happen as early as Friday and the Mumbaibased bank has agreed to withdraw its insolvency proceedings