The high court observed there was no final adjudication on the subject matter at this stage as the ADJ was yet to hear Bloomberg.
Culver Max Entertainment, formerly known as Sony Pictures Networks India (SPNI), has terminated merger agreements with Zee Entertainment, which could have otherwise created a USD 10 billion media enterprise in the country.
The National Company Law Tribunal (NCLT) on Tuesday admitted a fresh petition filed by a Zee Entertainment Enterprises Ltd shareholder seeking enforcement of the now-cancelled merger deal between ZEEL and Sony. The Mumbai bench of NCLT also directed Sony Pictures Network India, now known as Culver Max, to file a reply within three weeks and fixed the next date of hearing on March 12. On January 21, Sony Group Corp (SGC), the Japanese parent company of Sony Picture Network India (SPNI) and BEPL, announced the termination of the $10 billion merger agreement with ZEEL, while seeking $90 million for breach of conditions besides initiating arbitration.
Zee Entertainment Enterprises has sought a termination fee of $90 million (around Rs 748.7 crore) from the Sony Group for calling off the $10 billion merger deal in January this year. It has sought termination fees from two Sony Group entities -- Sony Pictures Networks India (SPNI), now known as Culver Max Entertainment, and Bangla Entertainment (BEPL), according to a regulatory filing from Zee Entertainment Enterprises Ltd (ZEEL) on Thursday.
Bollywood spent another day celebrating the Ganpati festival, going for darshan as well as visarjan.
Zee Entertainment on Friday said it has "pruned" its Technology and Innovation Centre (TIC) by about 50 per cent following the guidance of a special committee, which had conducted a critical assessment of its several business verticals. The MD & CEO has pruned TIC staff strength by 50 per cent to achieve a cost-effective structure, a Bengaluru-based business vertical of the company that offers technology solutions, Zee Entertainment Enterprises Ltd (ZEEL) said in an official statement.
A lot of entertaining content is coming your way on OTT this week! Namrata Thakker lists your entertainment, coming up, so you can binge-watch movies and shows high on romance, drama and humour.
Aryan Khan's much-awaited directorial debut series arrives on OTT this week along with some funny and spicy international content worth binge-watching!
Soldiers, cops, detectives, K-Pop idols, here's everything you can catch on OTT this week.
The IPL's overall valuation fell by 8 per cent to Rs 76,100 crore in 2025.
The National Company Law Tribunal (NCLT) has reserved its order on the merger of Zee Entertainment Enterprises and with Culver Max Entertainment (earlier known as Sony Pictures Networks India). The Mumbai bench of NCLT, comprising H V Subba Rao and Madhu Sinha, reserved the order on Monday, after hearing arguments from creditors who objected to the scheme including Axis Finance, JC Flower Asset Reconstruction Co, IDBI Bank, Imax Corp and IDBI Trusteeship. In December 2021, Zee Entertainment and Sony Pictures had agreed to merge their businesses.
ZEE Entertainment Enterprises Ltd on Friday said its MD & CEO Punit Goenka has initiated a process of rationalisation of workforce by 15 per cent to prune staff strength across the company. In a regulatory filing, ZEE Entertainment Enterprises Ltd (ZEEL) said Goenka has proposed a lean organisation structure to the board with a lateral structure while identifying broadcast, digital, movies and music as core business units. "In line with his overall strategic approach, the MD & CEO has initiated the process of rationalisation of the workforce by 15 per cent, that will prune the staff strength across the company to arrive at a streamlined team that is sharply focused on the set goals for the future," the company said.
The Securities Appellate Tribunal (SAT) on Thursday questioned market regulator Sebi's credibility on completing its investigation within a stipulated time in the Zee Entertainment Enterprises' (ZEEL) matter. SAT was hearing Zee's plea against Sebi's order baring Zee Entertainment Enterprises' Punit Goenka and Subhash Chandra from holding any key managerial positions in the company and other organisations for allegedly siphoning off funds of the media firm. "There is no certainty that these eight months won't be extended. ...past record of Sebi is that they have always extended it (investigation).
Zee Entertainment Enterprises Ltd (ZEEL) is seeking rapprochement with Sony Group as it makes a last-ditch effort to resurrect a $10 billion merger, according to industry sources. After the Japanese multinational firm pulled the plug on its $10 billion merger deal in January, the Indian company reached out again to Sony to reconsider the termination and offered for talks this month, a source said. On the other hand, Sony is understood to be evaluating the proposal from Zee.
Micro dramas -- typically 30 seconds to one to two minutes long per episode -- are designed for mobile-first audiences.
Superheroes, sleuths and Sara Ali Khan in love, catch all kinds of fun-sized action on OTT this week.
The National Company Law Appellate Tribunal (NCLAT) has set aside the order of NCLT directing bourses NSE and BSE to reconsider their approval for the Zee-Sony merger. A two-member NCLAT bench has asked NCLT to consider the merger of Zee Entertainment with Culver Max Entertainment (earlier known as Sony Pictures Networks India) afresh, after hearing all the parties. The appellate tribunal order came on hearing the appeal filed by Zee Entertainment Enterprises Limited (ZEEL) against the order passed by the Mumbai bench of the National Company Law Tribunal (NCLT) on May 11, 2023.
Two days after the termination of the merger agreement by Sony Group, Zee Entertainment on Wednesday hit back by filing a petition before the National Company Law Tribunal (NCLT), seeking a direction to implement the merger scheme. Besides, it has also initiated appropriate legal actions to contest the claims of $90 million (Rs 748.5 crore) filed by Sony Group before the Singapore International Arbitration Centre (SIAC), according to a regulatory update by Zee Entertainment Enterprise Ltd (ZEEL).
Courts should not grant ex-parte injunctions against publication of a news article barring in exceptional cases as it may have severe ramifications for the right to freedom of speech of the author and the public's right to know, the Supreme Court has said.
Spies, aliens, dogs and lawyers, it's quite a colourful spread on your OTT watch this week, points out Sukanya Verma.
Japan's Sony Corporation, which is merging its Indian television content company with Zee Entertainment Enterprises, is likely to seek a fresh forensic audit of the company after market regulator Sebi levelled fund diversion charges against Zee promoters, top lawyers said. The Sebi also barred Zee founder Subhash Chandra and its Chief Executive Officer (CEO) Puneet Goenka from holding any position as director. "As the Sebi has made fund diversion charges, which may change the nature of audited reports already filed, the acquirer (Sony) can seek a fresh forensic audit," said H P Ranina, a corporate lawyer.
The National Company Law Tribunal's (NCLT's) declaration that Zee Entertainment is bankrupt adds a new measure of uncertainty to the proposed merger with Sony. Three entities -- Aditya Birla Finance, IndusInd Bank and YES Bank -- have filed appeals in the NCLT for recoveries of Rs 130 crore, Rs 90 crore and Rs 540 crore, respectively. The money was borrowed by a related party - Siti cable - and not returned. Zee was a corporate guarantor.
John Abraham releases his long delayed Tehran on OTT. Naveen Kasturia and Pratik Gandhi star in spy thrillers...
Tehran's dull treatment of a dry premise never makes us feel the complexity of the ongoing Middle East crisis nor the patriotic fervour in John Abraham's voice, notes Sukanya Verma.
Clue: She was in Mumbai to attend the ZeeCine awards 2025 on Saturday May 17.
In an open letter to Zee's shareholders, Invesco, which holds a 7.74 per cent stake in the firm, reiterated its demand for an overhaul of the media group's board and that it would pursue extraordinary general meeting (EGM) to oust chief executive Punit Goenka and two other directors. Last month, Sony Group Corp's India unit signed a non-binding offer to buy Zee.
The National Company Law Tribunal (NCLT) has directed to initiate insolvency proceedings against Zee Learn, following a petition filed by private sector lender Yes Bank Ltd. Yes Bank Ltd (YBL) had claimed a default of Rs 468.99 crore by the Essel Group company. Out of the default amount of Rs 468.99 crore, the principal amount was Rs 410.67 crore and Rs 58.32 was interest.
Kajol resumes her 'maa' duties and Adam Sandler is back to playing Happy Gilmore once again on this week's OTT special.
Unlike the TVF shows that manage to mine humour and nostalgia for family bonds that are seen to be fraying in real life, the ordinariness of Bakaiti becomes its stumbling block, observes Deepa Gahlot.
Plenty of adrenaline-packed action to catch on OTT this week.
Notwithstanding record revenues in certain media sectors like film exhibition in the July-September quarter (second quarter, or Q2), the operational performance of the broadcasting business remained subdued. Zee Entertainment Enterprises and Sun TV are expected to experience a year-on-year (Y-o-Y) decline in advertising (ad) revenues during this period. Conversely, box office (BO) collections are anticipated to exceed Rs 3,000 crore in the quarter, propelled by a series of successful movie releases.
Sony India and Zee Entertainment Enterprises (ZEEL) have agreed to sell three Hindi channels--Big Magic, Zee Action and Zee Classic--to address anti-competition concerns arising out of their proposed merger. The broadcasters submitted their proposal to the Competition Commission of India (CCI), which gave a conditional approval on October 4. On Wednesday, the CCI made public its detailed 58-page order, specifying the channels that would be dropped.
The Competition Commission of India on Tuesday approved with certain conditions the mega-merger deal between media groups Sony and Zee. In a tweet, the watchdog said it has cleared the deal with certain modifications. The proposed merger was announced in September last year. CCI said it has approved the "amalgamation of Zee Entertainment Enterprises Limited (ZEE) and Bangla Entertainment Private Limited (BEPL) with Culver Max Entertainment Private Limited (CME), with certain modifications".
The National Company Law Appellate Tribunal on Friday issued notices to Zee Entertainment Enterprise Ltd (ZEEL) over the petitions filed by IDBI Bank and AXIS Finance against an NCLT order that approved the media company's merger with Culver Max Entertainment. However, a two-member NCLAT bench comprising chairman Justice Ashok Bhushan and Member Arun Baroka declined to grant any stay over the merger process during the pendency of the hearing. The appellate tribunal (NCLAT) has directed to list both petitions on January 8 for hearing, directing Zee Entertainment Enterprise Ltd to file a reply.
There's room for all kinds on OTT this week, as Sukanya Verma tells us.
It looks like Diljit is having a field day with this one, one hopes his joy rubs off on viewers as well, notes Mayur Sanap.
Arjun defeats Gukesh as world champion suffers second successive loss in Norway Chess
Here are 10 star kid debuts we loved from the word go and where to watch them on OTT.
'This is a first-of-its-kind partnership in the Indian media & entertainment landscape, and this association with Disney Star reflects our sharp, strategic vision for the sports business India.'
Zee Entertainment last week witnessed shareholder activism that saw an open call for the ouster of promoters and the incumbent management led by Punit Goenka. Besides, Dish TV also faced a similar call earlier this month. The trouble at Zee Entertainment can be gauged from the fact that this is a unique company wherein the promoters own just 3.99 per cent, but fully control the firm.
