The National Company Law Tribunal (NCLT) has issued notice to Sony Pictures Networks (Culver Max) in an application filed by Zee seeking the implementation of the $10-billion merger between the two companies. The matter has been posted for hearing on March 12.
Senior advocate Janak Dwarkadas argued that the sole jurisdiction to consider and supervise the scheme, which is already sanctioned, lies only with the NCLT, which is why Zee had filed the present application. Senior advocate Darius Khambata, appearing for Sony, informed the tribunal that the company was in the process of filing an application challenging the maintainability of Zee’s petition. He asked that the same be listed along with the present application on the next date.