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NCLAT dismisses IDBI Bank's insolvency plea against Zee
Hindustan Times Patna
|April 08, 2025
In a relief for Zee Entertainment Enterprises Ltd, the National Company Law Appellate Tribunal (NCLAT) has dismissed the insolvency plea filed by IDBI Bank against the media company over unpaid dues of around ₹150 crore.
NEW DELHI:
The top insolvency court upheld an earlier order by the National Company Law Tribunal (NCLT), Mumbai, which ruled that IDBI Bank's claims were covered under Section 10A of the Insolvency and Bankruptcy Code (IBC), 2016.
Section 10A of IBC blocks insolvency proceedings for defaults that happened during the covid-19 period, from March 25, 2020, to 25 March, 2021. Zee argued that its guarantee was limited and did not cover the entire debt.
Cette histoire est tirée de l'édition April 08, 2025 de Hindustan Times Patna.
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