 "NCLT reserves order in Zee Entertainment, Sony India merger case")
The Mumbai bench of the National Company Law Tribunal (NCLT) on Monday reserved its order in the Zee Entertainment Enterprises and Sony India merger case.
During the hearing, the counsel for Punit Goenka, managing director and chief executive officer, Zee Entertainment Enterprises, said that 96 per cent holding in the company is public and not a single shareholder has opposed the merger scheme between Zee and Sony India.
The NCLT approval is an important legal milestone for the merger scheme to come into effect.
On Monday, the Zee Entertainment stock closed at Rs 201.5 apiece, 2.4 per cent below its previous close.