Media
Campaign India Team
Feb 23, 2023

NCLT allows IndusInd Bank's insolvency plea against Zee Entertainment

The bank is claiming a default of INR 83.08 crore

NCLT allows IndusInd Bank's insolvency plea against Zee Entertainment
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. 
 
 
 
 
 
 
Source:
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