The Mumbai bench of the National Company Law Tribunal (NCLT), in applications filed by Indiabulls Housing Finance Ltd, also appointed Ravi Prakash Ganti as interim resolution professional (IRP) for these companies.
NCLT Mumbai bench adjourned Siti Networks insolvency hearing to April 3. Rohit Mehra, suspended board of directors, NCLAT intervention, financial and operational creditors claims, including Zee Entertainment Enterprises, were crucial in the process.
The NCLT has directed Zee Entertainment Enterprises to reply to applications filed by Sony Group companies within two weeks. Sony Group units Culver Max Entertainment and Bangla Entertainment have challenged Zee Entertainment s plea seeking implementation of the merger scheme. Sony terminated the proposed merger deal and sought $90 million in termination fees from Zee.
Rohit Mehra, the resolution professional (RP) managing the insolvency proceedings against Siti, moved the NCLT, seeking directions to restrain Star from disconnecting signals and continue providing TV signals till the final adjudication of the appeal.