Zee-Sony Merger Back On Track The merger of Zee Entertain Enterprises and Sony’s Indian arm looks to be back on track after an order banning Punit Goenka from managing the new entity was lifted yesterday.
The merger of Zee and Culver Max Entertainment was given the go-ahead in August, but the merger has run into several problems.
The India Securities and Exchange Board had barred Goenka and his father, Zee founder Subhash Chandra, from the boardrooms of listed companies for a year over allegations of insider trading.
However, the Securities Appellate Tribunal has overturned that decision, paving the way for the $10B merger to go ahead and for Goenka to resume his role as MD and CEO of Zee.
Read more on deadline.com