Punit Goenka: “Sony-ZEE merger will go through”
Punit Goenka, Managing Director and CEO of ZEEL has told Economic Times that the merger between Sony and ZEE will go ahead despite the current hold ups by Securities and Exchange Board of India (SEBI).
Goenka said that the merger will happen “whether or not” he is the CEO of the merged company. He further stated, “The ZEE and Sony teams are talking to each other on a daily basis as we are in an advanced stage of integration.”
It has also been reported that ZEE has paid Rs. 7 lakh as settlement charges to SEBI for alleged securities law violation, as reported by the media.
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SEBI has banned Subhas Chandra and Punit Goenka from holding any directorial or key managerial position for a year, leading to speculation about the proposed merger.
The merger is expected to conclude by September.
