In a significant development regarding the Zee-Sony merger, the National Company Law Appellate Tribunal (NCLAT) has taken the decision to transfer all associated pleas to the bench presided over by Chairperson Ashok Bhushan. This move was motivated by ongoing deliberations concerning IDBI Bank’s insolvency plea against Zee Entertainment Enterprises Ltd. (Zee) due to unpaid dues, which is already under review
The National Company Law Tribunal (NCLT) has reached a significant milestone by approving a record-breaking 180 resolution plans in the fiscal year 2022-23. This achievement has resulted in a total realization of Rs 51,424 crore from distressed assets, marking the highest-ever number of resolution plans sanctioned by the NCLT. While this accomplishment is commendable, it is the second-highest in terms
Yes Bank has initiated insolvency proceedings against Zee Learn alleging a default on a financial facility worth Rs. 468 crores, Zee Learn said in an exchange filing on April 25. “The company is compiling information to verify the facts claimed in the said petition filed by Yes Bank Limited,” the filing showed. Yes Bank has filed for bankruptcy under Section
