Page 28 - Essel Group News Today : Breaking News, Live Updates & Top Stories | Vimarsana

In December 2021, Zee Entertainment and Sony Pictures agreed to merge their businesses to create a $10-bn media giant

A two-member bench of the appellate tribunal observed that the default, claimed by IDBI Trusteeship, had happened during June 2020, which is covered under the period excluded under Section 10A of the Insolvency and Bankruptcy Code, 2016. Section 10A bars absolutely and forever, the filing of any application under Sections 7, 9 and 10 of the Code, for defaults committed on or after March 25, 2020 up to March 25, 2021.

Goenka is challenging the capital market regulator's confirmatory order of August 14 barring him and his father, Subhash Chandra, Chairman Emeritus of ZEEL, from holding directorship or managerial position in any listed company or their subsidiaries.

On August 10, the Mumbai Bench of NCLT had given its nod to Zee's $10 billion merger with Culver Max. It had dismissed the objections raised by lenders including IDBI Trusteeship, IDBI Bank, Axis Finance, JC Flowers Asset Reconstruction Co and Imax Corp.

YES Bank clarified that JC Flower ARC is not its asset reconstruction arm and its association with the asset reconstruction company is limited only to the extent of its current shareholding of 9.99 per cent only.