It has challenged the NCLT's August 10 approval for the merger.

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 ZEE promoter expressed optimism that the merger would be finalized by September.

It was ruled by the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) that the sale of the sports channel is not taxable in India.

Media reports say the cricket board is following the Zee-Sony merger closely before deciding on the media rights for Indian cricket team's bilateral series' broadcast.

Kenichiro Yoshida, CEO of Sony Corporation, made the announcement during an annual meeting.

The media company's insolvency proceedings were suspended last month by the National Company Law Appellate Tribunal.

The bank has agreed to withdraw its insolvency proceedings against the media company once the repayment is made.

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