Media Reports About ZEEL On NCLT Order Twist Facts – Here’s The Official Statement

Recently, ZEEL had announced its mega merger with Sony Pictures Networks India. The merged entity, in which SPNI's parent company Sony Pictures Entertainment would infuse USD 1.575 billion, will be a publicly listed company in India.

New Delhi: A misleading and baseless report has been published by several media houses about Zee Entertainment Enterprises Limited (ZEEL). The news falsely claiming about the National Company Law Tribunal (NCLT) order concerning ZEEL EGM is nothing but a hollow piece lacking any substance, truth and fact.

It is to be noted that NCLT has not passed any such order with respect to ZEEL EGM.

Releasing an official statement on NCLT hearing, ZEEL spokesperson said, “The Board of the Company is scheduled to meet as per the statutory time allotted, in relation to the matter. The next hearing by NCLT is scheduled for 4th October 2021. The Company will continue to take all the actions needed in the interest of the shareholders and as per law.”

Recently, ZEEL had announced its mega merger with Sony Pictures Networks India. The merged entity, in which SPNI’s parent company Sony Pictures Entertainment would infuse USD 1.575 billion, will be a publicly listed company in India.

The Board of Directors of ZEEL, had unanimously provided an in-principal approval for the merger between Sony Pictures Networks India (SPNI) & ZEEL. The ZEEL-SPNI mega merger deal has been seen as an extremely profitable pact for shareholders, stakeholders.

Not only on financial parameters, but the deal ranks very high also on the strategic value which the partner brings to the table.