Zee-Sony Merger: NCLAT To Hear Merger Challenges On May 17

According to sources, the National Company Law Appellate Tribunal (NCLAT) declared on April 15 that it will hear a challenge to the Zee-Sony merger on May 17, junking creditors IDBI Bank and Axis Finance’s contention to wait for the NCLT’s outcome before hearing the case

Before this, Zee's plea for the NCLT to impose the merger was denied by IDBI Bank and Axis Finance, who asked the NCLT to hold off on making a decision.

March 12 was set aside for the National Company Law Tribunal (NCLT) hearing on Zee Entertainment's request to proceed with the $10 billion merger with Sony Pictures Networks, which has been on hold. But it had been rescheduled for a later time. The hearing's conclusion will make it clear whether there is a possibility that the merger will be given another look.