NCLAT dismisses IDBI Bank’s plea for insolvency against Zee Entertainment

The National Company Law Appellate Tribunal (NCLAT) on Monday dismissed the plea of IDBI Bank which sought to initiate insolvency proceedings against Zee Entertainment.

A two-member NCLAT bench upheld the order passed by the Mumbai bench of the National Company Law Tribunal (NCLT), which had earlier rejected the private lender’s plea to initiate insolvency proceedings against Zee Entertainment Enterprises Ltd (ZEEL).