Zee-Sony merger: Relief for Zee, NCLAT sets aside NCLT order directing NSE, BSE to reconsider approval
The National Company Law Appellate Tribunal (NCLAT) on Friday set aside an NCLT order that directed the BSE and NSE to review their earlier approval for the merger between Zee Entertainment and Culver Max Entertainment and provide their fresh no-objection certificates (NOCs) for the same before the next hearing date. Zee’s merger with Culver Max (earlier known as Sony Pictures Networks India) is likely to create a $10 billion media giant.
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