The Subhash Chandra-promoted company had reported a 9% growth in its consolidated net profit for the July-September quarter at Rs 123 crore compared to Rs 113 crore in the same quarter last year. The operating revenue in Q2 rose 20% year-on-year (YoY) to Rs 2,437 crore.
Last month, Sony scrapped its much-awaited merger with Zee Entertainment, ending a deal that could have created one of the biggest TV broadcasters in India, alleging breaches of contract. Following the Sony action, Zee refuted various alleged breaches of obligations about the merger cooperation agreement.
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. 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.
Everything you want to know about Invesco, the fund seeking removal of Zee Entertainment s Punit Goenka businesstoday.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstoday.in Daily Mail and Mail on Sunday newspapers.