The National Company Law Appellate Tribunal (NCLAT) has issued a notice to Zee Entertainment Enterprises Ltd (ZEEL) following a petition from IDBI Bank. The bank has challenged an NCLT order rejecting a plea to initiate insolvency proceedings against ZEEL. The NCLAT has given ZEEL two weeks to file a reply, and IDBI Bank two weeks to file a rejoinder. The matter will be listed for the next hearing on October 11.
NCLAT to hear IDBI's plea against Zee Entertainment on August 31: Best Media Info bestmediainfo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bestmediainfo.com Daily Mail and Mail on Sunday newspapers.
IDBI bank had challenged the orders of the Mumbai bench of the National Company Law Tribunal (NCLT), which rejected the private lender's plea to initiate insolvency proceedings against Zee Entertainment Enterprises Ltd.
The National Company Law Appellate Tribunal (NCLAT) on Thursday agreed to hear IDBI Banks plea against Zee Entertainment in payment dispute case on August 31, 2023. Earlier, on August 2, the hearing on bank s plea was deferred by the NCLAT till August 17. The private lender has challenged an NCLT order, which had on May 19 rejected its plea to initiate insolvency proceedings against the media major.