NCLT allows Withdrawal of Zee Entertainment’s Merger with Sony Groups
The withdrawal was permitted on the termination of the merger agreement by Culver Max and Bangla Entertainment due to an alleged breach of the merger cooperation agreement (MCA)
The Mumbai bench of the National Company Law Tribunal ( NCLT ) has granted permission to withdraw the application seeking implementation of a merger with Zee Entertainment Enterprises Limited ( ZEEL ) and Sony Group Corp-owned Culver Max Entertainment and Bangla Entertainment. The merger agreement by Culver Max and Bangla Entertainment was terminated due to…
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