Mumbai, Feb 23: The National Company Law Tribunal has admitted an Indusind Bank plea for insolvency proceedings against Zee Entertainment Enterprises Limited (ZEEL). The division bench of judicial member H V Subba Rao and technical member Madhu Sinha on Wednesday also appointed Sanjeev Kumar Jalan as the resolution professional in the matter. The matter pertains to a default of Rs 89 crore by Zee Group’s multisystem operator arm Siti Networks claimed by Indusind Bank, for which ZEEL was a guarantor. […]
The National Company Law Tribunal (NCLT), Mumbai bench recently initiated corporate insolvency resolution process (CIRP) against Vijay Group Realty LLP for failing to pay a debt of around Rs one crore to a Thane-based financial creditor.