The merger between Sony and Zee was announced on December 22, 2021. However, it was called off by Sony Pictures.
Mad Men Film Ventures, a shareholder of Zee, later approached the NCLT seeking the enforcement of the merger scheme, which the tribunal had approved in August 2023.
In the meantime, Sony approached the Singapore International Arbitration Centre (SIAC) on February 4 seeking directions to prevent Zee from seeking legal remedies from other legal forums including the NCLT.
After the SIAC rejected Sony’s plea for urgent relief, Mad Men approached the NCLT seeking an urgent order to ensure that any order passed by any other forum concerning the Zee-Sony merger would be subject to the orders of the NCLT.
Zee thereafter approached NCLT Mumbai seeking the implementation of the $10 billion merger between the two companies.
Source: Barandbench
