ZEE can withdraw its merger implementation application: NCLT

The National Company Law Tribunal (NCLT) has allowed ZEE Entertainment Enterprises Limited (ZEEL) to withdraw its application seeking directives for Sony Group Corp-owned Culver Max Entertainment and Bangla Entertainment to execute their composite scheme of arrangement, according to a report by The Economic Times.

ZEEL had initially filed the implementation application following the termination of the merger agreement by Culver Max and Bangla Entertainment on January 22, citing an alleged breach of the merger cooperation agreement (MCA).