Zee shareholder moves NCLT seeking implementation of merger with Sony
The NCLT has given Sony Group Corp. three weeks to respond to a plea seeking implementation of the merger scheme between Sony and Zee Entertainment Enterprises. The scheme was terminated by Sony on January 22 due to non-fulfillment of closing conditions by Zee. The NCLT has adjourned the matter to March 12. Sony has demanded a $90 million termination fee from Zee and initiated arbitration against them.
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