NCLT allows IndusInd Bank's insolvency plea against Zee Entertainment

The bank is claiming a default of INR 83.08 crore

Feb 23, 2023 10:30:00 AM | Article | Campaign India Team Share - Share to Facebook

The National Company Law Tribunal granted IndusInd Bank insolvency proceedings against Zee Entertainment Enterprises. 
 
The order was issued after a petition was filed by IndusInd as Zee failed to oblige with the Debt Service Reserve Account Agreement. 
 
According to media reports, the bank claims a default of INR 83.08 crore. The court has now appointed Sanjay Kumar Jhalani as interim resolution professional. 
 
This news comes at a time when the media network is close to completing its merger with Sony. 
 
 
 
 
 
 

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