Singapore court rejects Sony plea to stay Zee’s NCLT proceeding

Singapore's arbitration tribunal has dismissed Sony's request for a stay on court proceedings in India against Zee following the Japanese media company's cancellation of a $10-billion merger. Zee, led by Punit Goenka, has petitioned the NCLT to instruct Sony's local subsidiary to fulfill its merger commitments. NCLT currently has two petitions before it: one by Zee and the other by a Zee shareholder, Mad Men Film Ventures.