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The Mumbai bench of the NCLT decided to withdraw the merger order after both parties mutually agreed to terminate the scheme, ...
Both Zee and Sony had claimed a termination fee of USD 90 million (around Rs 748.7 crore) from each other for not complying with the Merger Cooperation Agreement (MCA) signed in December 2021.
The bench observed the parties have "mutually consented" to withdraw the scheme on account of the settlement agreement and ...
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