According to the Bloomberg report, SEBI has been in conversation with senior officials at Zee including founders, Subhash Chandra, his son Punit Goenka and some board members to explain their stance.
Zee Entertainment Limited has denied a media report that the Securities and Exchange Board of India (SEBI) is investigating statements by Zee group founder Subhash Chandra about the promoter family s plans to increase its stake in the company. The company stated that it is not aware of any information that has not been announced to the exchanges, and that the statement quoted in the news article does not represent a decision or proposal that has been considered or approved by the Board.
Top company sources said that Zee was compelled to close down certain ventures in order to adhere to the merger conditions set by the Competition Commission of India (CCI). If the merger fails at this stage, it will be a huge loss for Zee.
News agency Bloomberg on Monday reported that Sony is planning to call off the $10 billion merger and Sony will issue a termination notice before January 20.