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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.

The settlement of the dispute would pave way for Zee’s merger with Sony

Best Media Info: The settlement with IndusInd Bank will be a significant reprieve for ZEEL, merging with rival Culver Max Entertainment, formerly Sony Pictures Networks India| Television News

Mumbai: The merger of ZEEL and Sony has moved a step forward as Zee Entertainment has settled the dispute over the dues with private sector lender IndusInd Bank, media reports said.

In a major relief to media major Zee Entertainment Enterprises Ltd (ZEEL), the National Company Law Appellate Tribunal (NCLAT) on Friday stayed the insolvency proceedings initiated against it earlier this week. Admitting a petition filed by ZEEL Managing Director and chief executive Punit Goenka, the appellate tribunal issued notices to private sector lender IndusInd bank