IndusInd initiates insolvency process against Zee Entertainment

IndusInd Bank has filed for bankruptcy proceedings against Zee Entertainment Enterprises at the Mumbai Bench of the National Company Law Tribunal (NCLT), the company said.  

The firm said in its exchange filing that IndusInd Bank claims to be the financial creditor before the NCLT for initiation of corporate insolvency resolution process against Zee and has claimed a default of Rs 83 crore.