Minority shareholders of ICICI Securities led by Bengaluru-based investment manager Manu Rishi Guptha have filed a class action suit with National Company Law Tribunal (NCLT) against ICICI Bank’s bid to delist its broking arm from the Indian bourses. Last month, nearly 72% shareholders approved the scheme of arrangement for the merger of ICICI Securities with …
The Singapore International Arbitration Centre (SIAC) has denied emergency interim relief to Sony Group companies against Zee Entertainment Enterprises, stating that the National Company Law Tribunal (NCLT) is the appropriate forum.The SIAC’s emergency arbitrator denied interim relief to Culver Max Entertainment and Bangla Entertainment, stating it has no jurisdiction to prevent Zee from approaching the …
The Singapore International Arbitration Centre (SIAC) is set to begin hearing in the arbitration case filed by Sony Group Corp-owned Culver Max Entertainment and Bangla Entertainment against Zee Entertainment Enterprises over the alleged breach of the merger agreement.People aware of the matter said that the arbitration proceedings will begin on January 31 and will be …
Mumbai: Two days after their two-year-long efforts to merge were called off, broadcasters Zee and Sony went at each other in legal forums in India and Singapore, claiming breach of contract. Sony Group companies Culver Max Entertainment and Bangla Entertainment (BEPL) initiated arbitration proceedings against Zee Entertainment Enterprises before Singapore International Arbitration Centre (SIAC), while …
Zee Entertainment Enterprises Ltd (ZEEL) spent Rs 366.59 crore on compliances till September 2023 for its now-failed merger with Sony, which called off the deal on Monday. The company had spent Rs 176.20 crore in the financial year that ended in March 2023. Besides, it spent Rs 190.39 crore in the first six months of …
The Mumbai bench of the National Company Law Tribunal (NCLT) has annulled the change of ownership of the “Smaaash” brand calling it a “fraudulent” transaction by promoter Shripal Morakhia and directed that it be transferred back to the insolvent Smaaash Entertainment (SEPL) in what could enhance value for the debt-laden sports entertainment company that owes …
Mumbai: Novi Digital Entertainment, which owns the Disney+ Hotstar streaming platform, has initiated a process to merge with its parent firm, Walt Disney Company-owned Star India. Both companies have already filed the scheme of merger with the Mumbai bench of the National Company Law Tribunal (NCLT). The division bench of judicial member Reeta Kohli and …
The average time taken for resolution of stressed assets under the insolvency law reached a three-year high in the June quarter, according to a report. The longest delay was 643 days for the Financial Creditors (FCs) in the first quarter of this fiscal, as per the report by India Ratings based on an analysis of …