But, despite this decline, August sales still represented the third-highest monthly total this year, following March and July
The dispute centres on an alliance agreement between Zee and Star India valued at $1.4 billion for the broadcasting rights for International Cricket Council (ICC) events
The opening of the issuance of FCCBs is Tuesday, and the conversion price of Rs 160.20 per equity share includes an equity premium of Rs 159.20 a share
On February 22, the Mumbai bench of the NCLT had admitted the bank's insolvency plea against ZEEL
Zee had said that the company had been exploring several strategies, including settlement, in relation to the ongoing dispute with IndusInd Bank
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
The settling of dues of about Rs 837 million ($10 million) to the lender could happen as early as Friday and the Mumbai-based bank has agreed to withdraw its insolvency proceedings
The settling of dues of about Rs 83.7 crore to the lender could happen as early as Friday, and IndusInd Bank could withdraw its insolvency proceedings against the media company
The stock of TV broadcasting & software production had dipped 15 per cent in past six trading days between February 17 and February 27.
Goenka moved the NCLAT on Thursday, a day after the Mumbai bench of the NCLT admitted insolvency proceedings against Zee on a plea filed by IndusInd Bank -- a financial creditor of Zee
The move came after Punit Goenka, chief executive of Zee, challenged the insolvency proceedings against the company
Death Cross on the Zee Entertainment may push stock in the bear grip
The comments came as Zee's chief executive, Punit Goenka, on Thursday said in a statement that he expected a timely completion of a merger between Zee and Sony
Goenka had appealed the NCLT's decision to allow IndusInd Bank to file for insolvency proceedings against Zee
Their sum-of-the-parts valuations ranges between Rs 275 and Rs 390, which indicates uncertainty
"No fresh month contracts will be issued on the expiration of February 2023 contracts," the exchange says in a circular
Says taking all necessary steps to protect interest of stakeholders and achieve timely completion of proposed merger with Sony
The NCLT decision to begin bankruptcy proceedings has overshadowed Zee Entertainment's merger with Culver Max Entertainment (Sony)
The company is currently undergoing a merger with the Sony India which is pending with the regulatory authorities and the court
The company said advertisement revenue YoY growth impacted due to FTA withdrawal (Zee Anmol) and slowdown in FMCG spends due to challenging macro-economic environment.