Essel group promoters plan to sell non-media assets to repay debt

Essel group promoters have decided to concentrate on selling their non-media assets rather than looking for further dilution of their shareholding in Zee Entertainment Enterprises (ZEEL) through a stake Their current shareholding in ZEEL is 24 per cent.

The move comes with the promoters getting the much-needed extension of up to six months to pay their dues from most of the mutual funds. The deadline to return the money ended in September. 

The promoters, however, have already paid about half their dues out of the money generated from the sale of promoters equity in ZEEL to private equity fund Oppeheimer. 

However, some mutual