Sony alleges Mad Man Films is a proxy for ZEE
Sony asks Singapore International Appellate Tribunal to restrain Zee from seeking legal relief from National Company Law Tribunal (NCLT).
Sony terminated the merger with Zee on January 22, 2024, citing Zee's failure to fulfill certain financial terms outlined in the deal and provide a viable plan to rectify the situation, as reported by Reuters. They also claimed $90 million as termination fees. (Image source: Moneycontrol)
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Sony Group-owned entities Culver Max Entertainment and Bangla Entertainment have urged the Singapore International Appellate Tribunal (SIAC) to restrain Zee Entertainment Enterprises (ZEE) from seeking legal remedies from the National Company Law Tribunal (NCLT) or any other court or tribunal in India and elsewhere, as per an ET report. Sony has alleged Mad Man Films is a proxy for ZEE.
Sony terminated the merger with Zee on January 22, 2024, citing Zee's failure to fulfill certain financial terms outlined in the deal and provide a viable plan to rectify the situation, as reported by Reuters. They also claimed $90 million as termination fees.
