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Report on ZEEL EGM is misleading, check facts from official statement here
The development has come after ZEEL has recently announced its mega-merger with Sony Pictures Networks India.
Highlights
- NCLT has not passed any order related to ZEEL’s meeting.
- ZEEL said that the Board of the Company is scheduled to meet as per the statutory time allotted.
New Delhi: A media report related to Zee Entertainment Enterprises Limited's (ZEEL) extraordinary general meeting (EGM) is slightly misleading, and lacks a few facts, according to a report by ZeeBusiness.
The article, however, lacks any substance, truth and facts. As of now, NCLT has not passed any order related to ZEEL’s meeting, which is mentioned in the news article.
“The Board of the Company is scheduled to meet as per the statutory time allotted, in relation to the matter. The next hearing by NCLT is scheduled for 4th October 2021. The Company will continue to take all the actions needed in the interest of the shareholders and as per law,” said the Company spokesperson.
The development has come after ZEEL has recently announced its mega-merger with Sony Pictures Networks India. The merged entity is going to be a publicly listed company in India. Also Read: Ola Electric raises over $200 million at $3 billion valuation
SPNI's parent company Sony Pictures Entertainment is also going to infuse USD 1.575 billion in the merged entity. Also Read: Aadhaar card update: Here’s how to update your name, mobile number in regional language
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