(Reuters) - Japan's Sony Group Corp has sent a termination letter to Zee Entertainment Enterprises Ltd, citing its plans to call off the merger between its India unit and the media network, Bloomberg
Directed by Nilesh Krishnaa, ‘Annapoorani’ was released in theatres on 1 December and began streaming on Netflix on 29 December. Co-producers Zee issue apology.
SEBI, in August, had barred Goenka and Subhash Chandra from holding positions in Zee company boards for allegedly diverting company funds to the group's other listed entities and firms.
The board its order had alleged the duo were actively involved in diverting company funds to the group's other listed entities and firms related to founding shareholders.
Report comes day after Sony Pictures Entertainment said it took country's markets regulator's order banning Zee Entertainment CEO from holding board positions 'seriously'.
Zee and Sony Group Corp had earlier announced a merger to create a $10 billion TV enterprise in 2021, with Goenka set to become the merged entity's MD and CEO.
SEBI said in its order that Chandra and Goenka were actively involved in diverting company funds to the group’s other listed entities and firms related to founding shareholders.
The slide can see a possible delay in merger with the local unit of Japan's Sony Group Corp which was initiated to take on the likes of Netflix and Disney in India.
Despite growing passenger volume, 11 out of 14 carriers reported losses in 2023-24. IndiGo recorded profit of Rs 8,167 crore, which reduced to Rs 7.253 crore in 2024-25.
Of the total package, $649 million will be utilised for additional hardware, software, and support services, and the remaining for Major Defence Equipment (MDE).
None of Pakistan’s PMs has lasted 5 years. That the current PM has given Asim Munir 5 years shows that of all military dictatorships history has seen, Pakistan’s is most creative.
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