ZEE, Culver Max, and Bangla Entertainment reach non-cash settlement for merger agreement

ZEE Entertainment Enterprises Ltd. (ZEE), Culver Max Entertainment Pvt. Ltd. (CMEPL) operating as Sony Pictures Networks India (SPNI) and Bangla Entertainment Pvt. Ltd. (BEPL) have arrived at comprehensive non-cash settlement, amicably resolving all disputes related to the Merger Co-operation Agreement and the Composite Scheme of Arrangement.

Reportedly, the companies have mutually agreed to withdraw all respective claims against each other in the ongoing attribution at the Singapore International Arbitration Centre, and all related legal proceedings related legal proceedings initiated in the National Company Law Tribunal (NCLT) and other forums.