IDBI Trusteeship Services Limited moves NCLAT over ZEE-Sony merger
Sony Pictures Networks & ZEEL
The ZEE-Sony merger continues to get into legal bother with reports of another objection from the IDBI Trusteeship Services Limited (ITSL).
IBDI has filed an appeal to the National Company Law Appellate Tribunal (NCLAT) against the merger. Earlier, National Company Law Tribunal (NCLT) had rejected its objection to the merger.
In its appeal, IDBI Trusteeship Services Limited has claimed that Subhash Chandra had executed a personal guarantee in 2019 in favour of IDBI trusteeship guaranteeing the repayment obligations towards the debentures.
Extracts from Exchange4Media
