The National Company Law Tribunal (NCLT) on Monday ordered insolvency proceedings against media baron Subhash Chandra on a plea filed by Indiabulls Housing Finance. A two-member Delhi bench of the NCLT directed initiation of the Corporate Insolvency Resolution Process (CIRP) against Zee Entertainment Enterprises Ltd (ZEEL) Chairman Emeritus Chandra, who was a guarantor for a …
Walt Disney Co. and Reliance Industries Ltd. have signed a binding pact to merge their media operations in India, according to people familiar with the matter, as the US entertainment giant recasts its strategy amid intense competition in the world’s most-populous country. The media unit of Reliance, controlled by billionaire Mukesh Ambani, and its affiliates …
Mumbai: The Ministry of Corporate Affairs (MCA), which is investigating Zee Entertainment Enterprises Ltd (ZEEL) over alleged corporate governance violations, has written to the Securities and Exchange Board of India (Sebi) seeking details on its latest findings on fund diversion that have been cited in media reports, said people aware of the matter. The ministry’s …
India’s market regulator has found a hole of more than $240 million in the accounts of Zee Entertainment Enterprises Ltd., dealing another blow to the embattled media firm less than a month after its merger with Sony Group Corp’s local unit collapsed. As part of its investigation into the Zee founders, the Securities and Exchange …
Zee Entertainment Enterprises Ltd on Sunday said the Singapore Arbitration Centre has denied Sony Group’s plea seeking a restrain against the Indian media company’s move to the NCLT for enforcing the merger that was called off by the Japanese company’s Indian arm. An Emergency Arbitrator of Singapore International Arbitration Centre denied the interim relief sought …
MUMBAI: Sony Group Corp is unlikely to extend the good faith negotiations with Zee Entertainment Enterprises Ltd. (ZEEL) — whose deadline was supposed to lapse on midnight of January 21, said people aware of the matter. This would mean the likely termination of the proposed $10 billion merger between its India operations and Zee to …
Zee Entertainment Enterprises Ltd. has missed a deadline to pay $200 million to Walt Disney Co.’s India unit for TV rights of cricket matches, according to people familiar with the matter, as the firm tries to preserve cash ahead of a likely collapse of its mega merger with Sony Group Corp. The Mumbai-based media firm …
Sony Group Corp is close to calling off its proposed $10 billion merger between its India operations with Zee Entertainment Enterprises Ltd (ZEEL) – first announced two years ago in a bid to create India’s largest broadcast company — owing to what it sees as the inability of the latter to fulfil several conditions laid …
Sony has yet to agree to a deadline extension for merger with Zee and is looking forward to hearing the Indian media company’s proposals and how they plan to complete the remaining critical closing conditions. Sony’s statement comes after Zee Entertainment Enterprises Ltd (ZEEL) earlier this week requested Sony Group companies to extend the date …
The fate of the planned merger between Sony Group Corp.’s India unit and Zee Entertainment Enterprises Ltd. may be known as early as next week, according to people familiar with the matter, as the companies face a looming deadline to resolve their standoff or scuttle a long-awaited deal to create a $10 billion media giant. …