Zee Entertainment Enterprises intends to reassess its entire business portfolio in the aftermath of the failed merger with Sony Group Corporation s India units. Managing Director Punit Goenka revealed plans to focus on businesses that generate maximum value during an analysts call. The termination of the merger has resulted in legal disputes between the companies.
Disney Star had recently sent an intimation to Zee to honour the ICC TV deal and is now contemplating legal action against Zee, one of the sources said. If Disney Star decides to take the legal route, it will be another setback for Zee that is already locked in a legal battle with Sony which terminated their merger deal on January 22.
Abhijit Joshi, managing partner at Veritas Legal said a scheme, once approved by all the authorities, should typically proceed subject to the conditionalities as per the scheme. "Typically, there is a lag between the approval from the court or tribunal and the effectiveness of the scheme. The scope of withdrawal will be limited and will depend on conditionalities to its effectiveness under the provisions of the scheme," he said.
Zee Entertainment Investors Invesco and OFI Global China Fund Renew Board Reshuffle Demand: Report ndtv.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ndtv.com Daily Mail and Mail on Sunday newspapers.