The three-member committee will be headed by former Allahabad High Court judge Dr Satish Chandra and will have Uttam Prakash Agarwal and P V R Murthy as the independent directors.
The development comes almost a week after Sony Group Entities put an end to two-year-long merger negotiations with Zee citing the inability of the latter to fulfill the merger agreement.
The company’s statement comes a day after ZEE sought more time for the proposed merger with Sony Pictures Network India, now known as Culver Max Entertainment Private Limited.
The SAT order will eventually pave the way for Goenka to resume his role as MD & CEO of Zee, and head the merged entity, which has already received NCLT approval