Zee Entertainment Enterprises Ltd on Wednesday informed the National Company Law Appellate Tribunal that it has entered into a settlement agreement with IndusInd Bank, inching a step closer to its deal with Sony Pictures. In February, the National Company Law Tribunal had admitted an insolvency petition against ZEE by IndusInd under Section 7 of the Insolvency and Bankruptcy Code. It …
The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Ashok Bhushan and Shri Barun Mitra, while adjudicating an appeal filed in Punit Goenka v Indusind Bank Ltd. & Anr., has stayed the NCLT order dated 22.02.2023, whereby Corporate Insolvency Resolution Process was initiated against Zee Entertainment Enterprises Ltd. Background Facts Zee Entertainment Enterprises Ltd. is an Indian media …
IDBI Bank on Thursday filed an insolvency application against Zee Entertainment Enterprises for initiating a corporate insolvency resolution process. Following this, on 13 September, the Delhi high court clarified that it had not restrained IndusInd Bank from taking Zee Entertainment to the insolvency court. Zee was the guarantor to the loan availed by Siti Networks from IndusInd Bank in terms …
