‘Incorrect, false’: ZEE on reports of missing $241 mn; share tanks 10%
ZEE says it has been in the process of providing all the comments, information or explanations requested by SEBI
ZEE says it has been in the process of providing all the comments, information or explanations requested by SEBI
Speculations are rife the merger deal could collapse amid complications in finalising CEO Punit Goenka's role in merged entity
Cut-off date for Zee-Sony merger was Dec 22, 2023; to be delayed now from earlier set deadline of Jan 2024
Zee shares fall to an intra-day low of ₹259.10 before recovering losses and settling at ₹278.25, down 2.06% compared to the previous session
The company law tribunal in August 2023 had given its nod to the merger proposal of ZEE with Culver Max, earlier known as Sony Pictures
IDBI has filed two separate petitions against ZEEL; NCLT last month gave its nod to merger proposal of ZEE with Culver Max
SEBI this month, in another order, had barred Goenka and Chandra from the boardrooms of four Zee group companies
NCLT approval comes many months after deal was announced back in 2021; it will lead to creation of the largest entertainment network in country
Without naming anyone, a Zee Ent spokesperson says its board has formed an interim committee of senior executives to run organisation smoothly
On June 12, Zee promoters Chandra, Goenka were barred by SEBI from taking leadership roles at listed firm; regulator also sought "urgent action" against them