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Zee-Sony merger can’t go ahead without Punit Goenka at the helm, says ex-Chief Justice Lalit

Zee-Sony merger can’t go ahead without Punit Goenka at the helm, says ex-Chief Justice Lalit
Zee-Sony merger can’t go ahead without Punit Goenka at the helm, says ex-Chief Justice Lalit
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From left, Punit Goenka, managing director and CEO of Zee Entertainment, and NP Singh, managing director and CEO of Sony Pictures Networks

Synopsis

According to former Chief Justice of India UU Lalit, Punit Goenka’s appointment forms the part of basic structure of the deal approved by Zee’s shareholders. He opines that any variance will require fresh approvals from stakeholders and regulators.

There’s more drama around the unification of these two media conglomerates than the daily soaps they produce. Former Chief Justice of India (CJI) UU Lalit has given a legal opinion that the multi-billion-dollar merger deal between Zee Entertainment and Sony Pictures cannot go ahead without Punit Goenka at the helm. He has said that the Securities Appellate Tribunal (SAT) order striking down an August directive by Sebi further reinforces his view
( Originally published on Jan 05, 2024 )
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The Economic Times