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Mad Men Film Ventures on Tuesday filed the petition requesting both ZEEL and Sony to implement the merger as it was approved by the NCLT in August 2023.
The tribunal did not agree to the arguments made by the counsel stating that the approval by NCLT was conditional and depended on various conditions, which may be fulfilled or waived off in writing.
NCLT has kept the next date of hearing on this matter on March 12.
Last week, the Sony Group Corp called off the merger with ZEEL following a stalemate over who will lead the merged entity.
This merger could have otherwise created a USD 10 billion media enterprise in the country.
The deal stipulated that the merger was to be completed before December 21, 2023, including regulatory and other approvals with a grace period of one month to complete the transaction.
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