New Delhi: Zee Entertainment has taken authorized motion towards Sony’s abrupt cancellation of the proposed merger, submitting a case with the National Company Law Tribunal (NCLT). Additionally, Zee Entertainment is contesting Sony’s demand for a USD 90 million termination price, which Sony has dropped at the Singapore International Arbitration Centre (SIAC).

In an official assertion, Zee Entertainment Ltd (ZEEL) has instructed Culver Max and Bangla Entertainment PVT Ltd (BEPL) to retract the termination and ensure their dedication to fulfilling obligations for the accepted merger scheme by the NCLT. ZEEL has approached the Mumbai bench of NCLT for directives to proceed with the merger scheme.

Simultaneously, the corporate has initiated authorized proceedings to problem Culver Max and BEPL’s claims within the arbitration course of earlier than the SIAC, as talked about within the regulatory submitting.