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NCLAT seeks creditors’ replies on Subhash Chandra’s plea against the NCLT stay; hearing on Oct 29-30
BusinessLine 1 hr ago·29 Sept 2026, 1:35 pm
Subhash Chandra, the founder of Zee Entertainment Enterprises, has approached the National Company Law Appellate Tribunal (NCLAT) to challenge a September 1 order by the National Company Law Tribunal (NCLT). The NCLT had granted a stay on the merger between Zee and Sony Pictures Networks India, effectively pausing the deal. Chandra argues that the NCLT's decision was incorrect and that the merger should proceed as planned.
This legal battle is significant for investors as the merger was a major strategic move to create a leading media conglomerate in India. A successful appeal by Chandra could revive the deal, while a rejection might lead to its collapse. The outcome will determine the future of the merged entity and the strategic direction of both companies.
Investors should watch the NCLAT's upcoming hearing on October 29-30 for clarity. The tribunal's decision will provide a definitive update on the status of the Zee-Sony merger and its impact on the broader media sector.
Excerpt from BusinessLine
The National Company Law Appellate Tribunal (NCLAT) on Tuesday issued notices to creditors on Essel Group Chairman Subhash Chandra’s appeal against a stay on his personal insolvency settlement. It listed the interim relief applications for hearing on October 29 and 30. Chandra is challenging a September 1 order of a…Read the original at BusinessLine
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