Zee Entertainment Enterprises Limited CC-Mar24.pdf · 2024-05-17
It was nice to see some recovery sequentially as well as year -on-year in our results. And I wish the company achieves its targets and remains on the path of progress, which for last 2, 3 years was missing. But now I wanted to know in our meeting in March, our chairman had mentioned that this Sony merger, etcetera, which was continuing, they hope that the things to be taken care in the NCLT. After that, we withdrew from NCLT, saying that we reserve right to come to NCLT, if at all, the arbitration proceeds are in your favour. What is the situation now? Now the matter is ending with Singapore arbitration tribunal and so are the hearings going on? Or when are they scheduled for that?
If in arbitration proceeding, as we have really taken a lot of pains and we have closed some of the channels because due to the competition commission, etcetera, so really, we have also lost a significant amount of money as well as the effort. So, as you have rightly said that you have the options to , in case they say that they are wanting to charge a termination fee. But our stand is that we have already reasonably completed with all the precedent conditions. So, if we succeed in that, then still the NCLT can rule in favor of the merger and the merger can go on?