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NCLAT stays insolvency proceedings against Zee; final hearing on March 29

The move came after Punit Goenka, chief executive of Zee, challenged the insolvency proceedings against the company

Zee
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BS Web Team New Delhi
On Friday, the National Company Law Appellate Tribunal (NCLAT) stayed the initiation of insolvency proceedings against Zee Entertainment Enterprises (Zee). The move came after Punit Goenka, chief executive of Zee, challenged the proceedings against the company.

The NCLAT has also issued notice to IndusInd Bank. The case will now be heard on March 29.  

In the court, advocate Mukul Rohatgi appeared for Goenka and said that the recovery of the loan must go through the Debts Recovery Tribunal and not through Insolvency Code. 

They said that Zee had given a special guarantee, not for Siti's debt, but only to maintain

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First Published: Feb 24 2023 | 12:39 PM IST

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