Page 7 - Merger

NCLAT sets aside NCLT order on Zee Entertainment-Sony India merger

The National Company Law Appellate Tribunal (NCLAT) has set aside the order of NCLT directing bourses NSE and BSE to reconsider their approval for the Zee-Sony merger. A two-member NCLAT bench has asked NCLT to consider the merger of Zee Entertainment with Culver Max Entertainment (earlier known as Sony Pictures Networks India) afresh, after hearing all the parties. The appellate tribunal order came on hearing the appeal filed by Zee Entertainment Enterprises Limited (ZEEL) against the order passed by the Mumbai bench of the National Company Law Tribunal (NCLT) on May 11, 2023. The NCLT had directed NSE and BSE to reconsider their prior approvals for the merger of ZEEL and Culver Max Entertainment. It had also asked the bourses to reassess the non-compete fee under the clause of the merger. The said order was challenged by ZEEL before the appellate tribunal, contending that it was not granted adequate opportunity by the NCLT to present its side and it didn't follow the principles o

NCLAT defers Zee Entertainment's plea over merger approval to Friday

The National Company Law Appellate Tribunal (NCLAT) has deferred the hearing to Friday on Zee Entertainment's petition against the NCLT order, directing bourses NSE and BSE to reconsider their approval for its merger with Culver Max Entertainment. A two-member NCLAT bench on Thursday directed the counsel appearing for Zee Entertainment Enterprise Ltd (ZEEL) to remove defects in the petition and directed to list the matter for the next day for hearing. The appellate tribunal was hearing the appeal filed by ZEEL against the order passed by the Mumbai bench of the National Company Law Tribunal (NCLT) on May 11, 2023. The NCLT had directed NSE and BSE to reconsider their prior approvals for the merger of ZEEL and Culver Max Entertainment (earlier known as Sony Pictures Networks India). It had also asked the bourses to reassess the non-compete fee under the clause of the merger. The said order was challenged by ZEEL before the appellate tribunal, contending that it was not granted adequ

BCCI likely to wait for Zee-Sony merger before selling media rights: Report

According to media reports, Zee Entertainment Enterprises is in talks with the creditors to repay its debt and clear the last obstacle in completing its merger with Sony Pictures Network India

SBI Funds Management gets RBI's nod to acquire 9.99% stake in HDFC Bank

The lender in the filing also stated that SBI Funds Management has been advised by the central bank to complete the said stake acquisition in the bank within a period of six months

PVR Pictures renamed as PVR INOX Pictures after merger with Inox Leisure

PVR Pictures has been renamed as PVR INOX Pictures following the merger of PVR and Inox Leisure. The merged entity is operating 361 cinemas with 1,689 screens across 115 cities till the end of FY23 in India and Sri Lanka. PVR Pictures was the film production and distribution arm of PVR Group. According to a statement on Wednesday, PVR INOX Pictures intends to increase investments in content acquisition for the Indian market, and generate further opportunities for under-represented storytellers and independent creators. "With a wider screen network, it will expand its programming and marketing capabilities and create highly innovative experiences, bringing significant value to its partners as well as to its customers," it said. The company made a successful film production debut in 2007 with Taare Zameen Par and Jaane Tu Ya Jaane Na. PVR-INOX Ltd has been created after the merger of two leading cinema brands PVR Ltd and INOX Leisure. The merger was effective from February 6, 2023.

HDFC-HDFC Bank merger may pave way for Adani Enterprises' Sensex inclusion

LTIMindtree may get added to Nifty; merged HDFC Bank may see $4.9 bn inflows from passive tracker

JM Financial Home Loans, Indostar Capital Finance to explore merger

As of December 2022, JM Home had a loan book of Rs.1,181 crore and AUM of Rs. 1,272 crore with average ticket size of Rs 12 lakh and loan to value ratio of 55%

Ipca Laboratories to acquire 33% stake in Unichem for 1,034 crore

The acquisition is subject to the fulfilment of terms and conditions as per the share purchase agreement, and statutory approvals from the Competition Commission of India, the company added

JSW Group in talks with MG Motor, BYD India for electric vehicle push

MG Motor India unveiled its compact EV Comet, which has a range of 230 km per charge, last Wednesday

Favourable terms

Lower cost of funds will help HDFC Bank after merger

HDFC Bank garners record Rs 1.5 trillion deposits in a quarter

This is the highest in a three-month period since merger announcement with HDFC Ltd

Eye on expansion, Haldiram family to invest Rs 2,500 crore in 5 years

Mulls IPO upon the merger of Nodia, Nagpur businesses

Tata Capital Financial Services, Tata Cleantech to merge with Tata Capital

The boards of TCFSL and TCCL have also accorded their approval

First Citizens buys Silicon Valley Bank following a run on the lender

The lender said it will assume $56 billion in deposits and 17 legacy branches will begin operating Silicon Valley Bank, a division of First Citizens

US banking turmoil: Wipeout of risky bonds upends $275-billion market

UBS Group AG told Credit Suisse wealth bankers it's weighing financial sweeteners for them to stay as it seeks to reassure key staff following the takeover

Banking turmoil: Credit Suisse, UBS stocks see wild swings after deal

Credit Suisse nosedives 64%; UBS falls 15% in early trade but recovers later

HDFC twins' merger: RBI may take call on relaxations closer to date

Merger expected to be completed by this July

Top headlines: India Inc commits Rs 11.87 trn to AP, RBI fines Amazon Pay

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Singapore Airlines to get 25.1% stake in enlarged Air India group

The November 2022 deal will inject a further SGD 360 million ($267 million) into Air India; this agreement is still subject to regulatory approval

Merger with Sony will get stuck on insolvency proceedings, says ZEEL

The comments came as Zee's chief executive, Punit Goenka, on Thursday said in a statement that he expected a timely completion of a merger between Zee and Sony