With this, Goenka can now be appointed as the Managing Director (MD) of the merged entity
The transaction was initially expected to be closed by the end of September
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(Reuters) -Japan's Sony Group Corp said on Friday a merger of its Indian unit with Zee Entertainment Enterprises, which was due to be completed by end-September, would likely take a few more months.
Stocks to watch on Thursday, September 28 2023: Telecom stocks too may see some action after Trai data for July showed considerable new subscriber additions for Jio and Airtel; and loss of market shar
Sebi counsel assures court of completing part investigation by November
The tribunal questioned the credibility and surety of the Sebi in completing the probes within eight months
Arguing on behalf of Goenka, senior counsel Abhsihek Manu Singhvi pointed that there had been no loss to Zee and no gain to Goenka in the alleged matter
Zee-Sony merger: This comes just over a month after the NCLT's Mumbai bench approved the merger on August 10 by dismissing all applications against it
The confirmatory order passed by Sebi chief Madhabi Puri Buch barred Goenka from holding any key managerial positions in the Zee group of companies
Tribunal hears Punit Goenka's appeal, to hear case for final decision on Sept 8
Stocks to Watch today, August 30, 2023: Billionaire Sunil Mittal's backed telecom services provider Airtel Uganda Ltd plans to raise $216 million in an initial public offering (IPO)
The Zee Ent promoter has been barred holding key positions in four group firms and merged entity
According to Sebi's order, Goenka will remain barred from holding key positions in the merged entity too
Shares of Zee Entertainment Enterprises soared as much as 20 per cent on the BSE in Thursday's intra-day trade after the National Company Law Tribunal approved the company's merger with Sony India
CLOSING BELL ON AUGUST 11, 2023: 14 out of the Sensex 30 stocks declined over a per cent each, while HCL Tech gained 3 per cent on Friday.
Zee Entertainment hits fresh 52-week high post approval by NCLT
Stocks to watch on August 11, 2023: Balrampur Chini, Chambal Fertilisers, Delta Corp, Indiabulls Housing Finance, Manappuram Finance and Zee among eight stocks in F&O ban period on Friday.
Zee Entertainment soars 18% after merger clearance
In December 2021, Zee Entertainment and Sony Pictures reached an agreement to combine their businesses, and both companies approached the tribunal to seek approval for the merger