On October 31, the National Company Law Appellate Tribunal (NCLAT) reassigned the appeals lodged by Axis Finance and IDBI Bank, challenging the National Company Law Tribunal’s (NCLT) approval of the Zee-Sony merger, to the bench presided over by the Chairperson.
As per the bench, since the Chairperson-led panel was already overseeing IDBI’s insolvency plea against Zee Entertainment Enterprises Limited (ZEEL), it was fitting for the same bench to handle these appeals.
This is the third time in less than a month that challenges to the Zee-Sony merger have been shifted to a different bench. Initially, the case was under the purview of a bench led by Justice (retd) Rakesh Kumar, who resigned on October 30 following contempt proceedings in the Supreme Court. Subsequently, the matter was transferred to a bench led by Justice (retd) Anant Bijay Singh, who then forwarded it to the Chairperson’s court.