NCLAT accepts IDBI Bank's insolvency plea against ZEEL
The National Company Law Appellate Tribunal (NCLAT) has admitted IDBI Bank's plea to start insolvency proceedings against Zee Entertainment Enterprises Limited (ZEEL). This is in relation to unpaid dues of around Rs. 150 crore. The NCLAT issued a notice to ZEEL and instructed both parties to submit replies, acknowledging that the matter requires consideration. The next hearing is scheduled for October 11.