Zee Entertainment Initiates Legal Action Against Sony After Merger Collapse

New Delhi: Zee Entertainment has taken legal action against Sony’s abrupt cancellation of the proposed merger, filing a case with the National Company Law Tribunal (NCLT). Additionally, Zee Entertainment is contesting Sony’s demand for a USD 90 million termination fee, which Sony has brought to the Singapore International Arbitration Centre (SIAC).

In an official statement, Zee Entertainment Ltd (ZEEL) has instructed Culver Max and Bangla Entertainment PVT Ltd (BEPL) to retract the termination and confirm their commitment to fulfilling obligations for the approved merger scheme by the NCLT. ZEEL has approached the Mumbai bench of NCLT for directives to proceed with the merger scheme.

Simultaneously, the company has initiated legal proceedings to challenge Culver Max and BEPL’s claims in the arbitration process before the SIAC, as mentioned in the regulatory filing.