NCLT directs ZEE to convene shareholders meeting over merger with Sony

The National Company Law Tribunal (NCLT) has directed ZEE Entertainment Enterprises Limited (ZEEL) to convene a meeting of equity shareholders of the company on 14th October over its proposed merger with Sony.

A spokesperson for ZEEL said, “The National Company Law Tribunal (NCLT) Mumbai bench has directed in its order, that a meeting of the Equity Shareholders of Zee Entertainment Enterprises Ltd. be convened and held on Friday, 14th October, 2022 for the purpose of considering, and if thought fit, approving the proposed merger of the Company with Culver Max Entertainment Private Limited (formerly Sony Pictures Networks India Private Limited).”

The two companies had signed a definitive agreement in December 2021. However, recently it has faced hurdles with the competition authority in India looking deeper into the finer details of the merger.