Key Points
The National Company Law Appellate Tribunal (NCLAT) on Monday disposed of an appeal filed by the promoters of Zee Entertainment after the company settled its dues with IndusInd Bank...
The development is a respite for the promoters of the company, who are currently trying to stitch a merger between Zee Entertainment with Culver Max Entertainment (Sony)...
Punit Goenka, managing director (MD) of Zee Entertainment Enterprises (ZEEL) approached the appellate tribunal in February to challenge the National Company Law Tribunals order to admit the company under the Corporate Insolvency Resolution Process...
In two separate applications filed by the IndusInd Bank, has appointed Sanjeev Kumar Jalan, a partner in professional services firm BDO, and Mohit Mehra as resolution professionals for Zee Entertainment and Siti Network, respectively...
So far, the companys board, shareholders, lenders, the Securities and Exchange Board of India (Sebi), Competition Commission of India (CCI), stock exchanges, and the Regional Director (RD) of the Ministry of Corporate Affairs has already approved the scheme of arrangement between Sony and Zee...
You might be interested in
Zee Entertainment, IndusInd Bank reach settlement over dues; Zee shares jump
29, Mar, 23Zee Entertainment Enterprises Ltd and IndusInd Bank Ltd told an Indian tribunal on Wednesday that they have settled a dispute over dues of the media company
Booster Shot! Settlement with IndusInd Bank lifts Zee Ent shares to 1-month high
29, Mar, 23The insolvency plea by IndusInd Bank against Zee had raised questions over the smooth merger of the company with Sony Pictures, which was already delayed due to regulatory requirements. In February alone, shares of Zee Entertainment lost nearly 14% of its value.
Zee Entertainment, IndusInd Bank settle dispute over dues
29, Mar, 23Zee Entertainment Enterprises Ltd and IndusInd Bank Ltd told the NCLAT on Wednesday that the two companies have settled a dispute over dues of the media company. IndusInd Bank, in its plea, had claimed a default of Rs 83.08 crore against the media and entertainment firm promoted by Subhash Chandra.
Zee Entertainment set to repay IndusInd $10 million to wrap Sony deal
16, Mar, 23The settling of dues of about Rs 837 million 10 million to the lender could happen as early as Friday and the Mumbaibased bank has agreed to withdraw its insolvency proceedings
Zee to repay IndusInd Bank dues
16, Mar, 23According to sources close to the development, the dues are expected to be cleared latest by Friday, following which formal announcements would be made.
Zee Entertainment, IndusInd settle payments issue, NCLAT disposes of appeal
03, Jul, 23Zee Entertainment and IndusInd Bank on Monday announced that all the due payments have been settled between the two entities, as per media reports. Therefore, the National Company Law Appellate Tribunal (NCLAT) has disposed of the appeal. The two companies had informed NCLAT that they have reached a settlement in relation to their payment dispute, paving way for the Sony deal, in March 2023.
NCLT dismisses IDBI Bank's insolvency plea against Zee Entertainment
19, May, 23The National Company Law Tribunal on Friday dismissed IDBI Bank's insolvency plea against Subhash Chandra promoted Zee Entertainment Enterprises Ltd (ZEEL). ZEEL is in the process of a merger with Sony Pictures Network India (SPN). On December 22, 2021, ZEE and SPN signed a definitive agreement to merge the two companies. The proposed merger will see ZEE merging into SPN and, after closing, the merged company will be publicly listed in India.
Nod to Zee-Sony merger, will be biggest media firm
11, Aug, 23The National Company Law Tribunal (NCLT) today allowed the merger of Zee Entertainment Enterprises Ltd and Culver Max Entertainment (earlier known as Sony Pictures Networks India).
Zee Entertainment zooms 14% in 4 days on hopes of settlement with lenders
21, Mar, 23Zee had said that the company had been exploring several strategies including settlement in relation to the ongoing dispute with IndusInd Bank