Zee Entertainment Enterprises

On February 22, the Mumbai bench of the NCLT had admitted the bank's insolvency plea against ZEEL

In a report on Thursday, Bloomberg said that the media company has agreed to repay its dues to the IndusInd Bank to resolve insolvency proceedings against it

Their sum-of-the-parts valuations ranges between Rs 275 and Rs 390, which indicates uncertainty

The National Company Law Tribunal has admitted an Indusind Bank plea for insolvency proceedings against Zee Entertainment Enterprises Limited (ZEEL). The division bench of judicial member H V Subba Rao and technical member Madhu Sinha on Wednesday also appointed Sanjeev Kumar Jalan as the resolution professional in the matter. The matter pertains to a default of Rs 89 crore by Zee Group's multisystem operator arm Siti Networks claimed by Indusind Bank, for which ZEEL was a guarantor. The private sector lender has also filed a separate insolvency petition against Siti Networks at the NCLT. The NCLT has appointed Mohit Mehra as the resolution professional in this matter. The NCLT has admitted the plea at a time when ZEEL is in advanced stages of merging with Sony in one of the biggest deals in the media and entertainment sector. According to experts, the development is bound to create hurdles in the deal, with some opining that the powers of a company board stand superseded with the

The company is currently undergoing a merger with the Sony India which is pending with the regulatory authorities and the court

The Indian Performing Right Society (IPRS) Ltd has moved the insolvency tribunal NCLT against Zee Entertainment Enterprise Ltd, claiming a default of Rs 211.41 crore, the media major said in a regulatory filing. However, Zee Entertainment Enterprise Ltd (ZEEL) added that it "will be filing its reply rejecting the claim on, inter alia, the ground that there is a pre-existing dispute between the parties on the claimed amount... " IPRS, which is a non-profit society comprising authors, composers and music publishers, had filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC) 2016, as an operational creditor claiming dues towards royalty payable for utilisation of "literary and musical works". "A Petition has been filed against the Company under Section 9 of the IBC by the IPRS, an Operational Creditor, before the NCLT, Mumbai Bench for initiation of Corporate Insolvency Resolution Process against the company, claiming a debt and default of Rs 211.41 crore ...

Between the two, Sun had better growth rates than Zee in the Sept quarter

Morgan Stanley, Citigroup, Bank of America, Abvendus, ICICI Prudential MF were some of the buyers

This is the second block deal by Invesco in seven months, which offloaded 7.8% stake in Zee Entertainment in April

The identity of Zee channel offered to shut down is not known yet

As per the BARC data for the ongoing financial year (2023), the merged entity has 36 per cent TV viewership market share in the Hindi GEC segment, and 33 per cent in the Hindi movies channels.

The company had reported a net profit of Rs 208.78 crore in April-June period a year ago, Zee Entertainment Enterprises Ltd (ZEEL) said in a BSE filing.

It was alleged that the entities violated insider trading norms and disclosure lapses under SAST (Substantial Acquisition of Shares and Takeovers) regulations.

Though the stock has gained 35% over the past month, given that target prices of brokerages range between Rs 410-Rs 450 a share, there is still an upside of over 37% likely from the current levels

CEO and managing director of Zee Entertainment speaks on alliance with Sony India announced on Thursday.

Buying was seen across the board; Micap and Smallcap indices finished with gains of 1.5 per cent each, overall breadth too was extremely positive

About 53% of the merged entity would be owned by Sony and the rest by Zee's holders, according to the non-binding agreement signed in September

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As Invesco has proposed to appoint six directors on the board of Zee, it would tantamount to taking control of the company, says Zee's counsel

Accuses Invesco of wanting to merge Zee with a rival at the cost of Zee shareholders