RIL’s board had approved the demerger in November 2022. At present, RSIL is a wholly-owned subsidiary of RIL and is an RBI-registered non-deposit-taking systemically important non-banking financial company.
Mumbai : The National Company Law Appellate Tribunal (NCLAT) on Friday stayed the order directing the initiation of insolvency proceedings against Zee Entertainment Enterprises Ltd ( Zeel) which was a huge relief for the company. The decision came after the NCLAT heard Zeel CEO Punit Goenka challenge the company's insolvency proceedings.
While claiming a financial debt of over ₹92 crore, IndusInd Bank has initiated the CIRP at a time when Zee Entertainment is seeking approval of its merger with Sony Pictures
The reply stated that the plea filed by Yes Bank was a writ which was a public law remedy and issued only against State and its authorities and not against a private company.