Previously, the planned merger was accepted by the Mumbai bench of the National Company Law Tribunal (NCLT) accepted on August 10, 2023,

As per the media reports, the court stated that the merger shouldn't be kept waiting just because of the ongoing case with the SEBI.

The move comes amid a severe fund crunch in the company

The move came after NCLAT heard plea of Punit Goenka, chief executive of Zee, challenging insolvency proceedings against the company.

IndusInd Bank filed a petition with the NCLT against Zee over a default of around Rs 80 crore.

The Mumbai bench of the tribunal issued the order on August 24.