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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.

Zee and IndusInd dues settlement: The appellate tribunal also told both parties to pay their dues to the Interim Resolution Professional

The National Company Law Appellate Tribunal on Monday disposed of the appeal filed by Zee Entertainment Enterprise promoters after the media major reached a settlement with IndusInd Bank following payment of all dues to the financial creditor.

Sebi has penalised Cyquator Media Services, a promoter entity of ZEE Entertainment Enterprises Ltd (ZEEL), for certain disclosure lapses.

Essel group chairman Chandra and Goenka was barred by the markets regulator from holding the position of a director or key managerial personnel in any listed company