IDBI Bank files insolvency plea against Zee to recover Rs 149 cr

New Delhi, December 15 IDBI Bank has moved the National Company Law Tribunal (NCLT) against Zee Entertainment Enterprises Ltd (ZEEL) seeking an insolvency proceeding against the media firm to recover dues of Rs 149.60 crore. “The bank’s purported claim arises...

PTI

Updated At : 03:52 PM Dec 16, 2022 IST

New Delhi, December 15

IDBI Bank has moved the National Company Law Tribunal (NCLT) against Zee Entertainment Enterprises Ltd (ZEEL) seeking an insolvency proceeding against the media firm to recover dues of Rs 149.60 crore.

“The bank’s purported claim arises under a Debt Service Reserve Agreement entered into by the bank and the company for the financial facility availed by Siti Networks Ltd,” it said.

IDBI Bank files insolvency plea against Zee to recover Rs 149 cr

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