ZEE has argued that Punit Goenka’s case with Sebi and the merger are two separate cases. The current ZEE valuations do not appear to justify the strong potential of the merged entity.
The long pending approval from the NCLT, along with the dismissal of all the objections raised by the lenders, will pave the way for the merger of India’s second and third-largest entertainment networks that was first announced in 2021
NCLT Approves Merger of Zee-Sony; Details, The NCLT gave its approval on August 10, 2023, after hearing objections from several creditors of ZEEL, Sony will hold a 50.86% stake in the merged entity, while ZEEL shareholders will hold the remaining 49.14%.at news18.com