In order to stop corporations from exploiting their dominant market position, CCI has requested a number of changes.
The Sony-Zee merger has been given the go-light by the Competition Commission of India (CCI) subject to a number of restrictions. To stop Zee Sony from exploiting its dominant market position, CCI has put restrictions in place.
After the merger, Sony Pictures Networks India will hold a majority stake—nearly 51 percent—in the combined company, which will be listed on the Indian stock exchange.
Sony Pictures Networks India and Bangla Entertainment were advised to obtain the CCI approval by Shardul Amarchand Mangaldas.
The Competition Team was led by partners Aparna Mehra and Rohan Arora, as well as senior associates Krithika Ramesh, Ritika Sood, associates Karan Arora, Ishaan Chakrabarti, and associate Sai Divkanwar Singh. The team was also backed by Pranav Satyam, Special Advisor.
Gunjan Shah, a partner, and Karun Prakash, a partner, served as the team’s leaders.
Nisha Kaur Uberoi, Partner and Head of the Competition Law practise at Trilegal, and Gautam Chawla, Partner, led the team that provided advice to ZEE on the subject of competition law. Radhika Seth, Counsel, Ankush Walia, and Swati Sharma, Senior Associates, and the Associates Akrathi Shetty, Ishan Arora, Vrinda Nagpal, Madhav Kapoor, Prerana De, Vasudha Verma, and Akan
Ankit Kejriwal, Harsh Maggon, and Nishant Parikh served as the team captains for the transaction.
With its first suspicions of unfair competition, the CCI had sent out a show-cause notice, asking for an explanation as to why a Phase II thorough investigation shouldn’t be conducted.
For the hearing before the CCI on the answer to the show-cause notice, Trilegal had appointed Senior Advocate Ramji Srinivasan, whereas Shardul Amarchand Mangaldas had advised Senior Advocate Amit Sibal.