Zee makes disclosure to BSE on IndusInd Bank’s NCLT move
IndusInd Bank has moved NCLT against the company over default
Zee Entertainment Enterprises Limited (ZEEL) has made a disclosure in the Bombay Stock Exchange (BSE) that an application has been filed by Indusind Bank Limited, before the National Company Law Tribunal for initiation of Corporate Insolvency Resolution Process against the company.
“Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations”), we hereby inform you that an application has been filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules 2016 by Indusind Bank Limited, claiming to be a Financial Creditor, before the Hon’ ble National Company Law ‘Tribunal, Mumbai Bench for initiation of Corporate Insolvency Resolution Process against the Company, claiming a default of Rs. 83,08,00,000/- (“CIRP Application")”, reads the disclosure.
