NCLT reverses approval of Zee-Sony merger, recalls August 2023 order

The National Company Law Tribunal (NCLT) has reversed its previous approval of the merger between Zee Entertainment and Sony Pictures Networks India, recalling its earlier order from August 10, 2023.

The Mumbai bench of the NCLT decided to withdraw the merger order after both parties mutually agreed to terminate the scheme, as outlined in their settlement agreement. The board of directors from both companies have also passed resolutions to withdraw the scheme of amalgamation.