An operational creditor has filed Rs 211-crore insolvency case against Zee Entertainment Enterprises, the company said on Monday.
“A petition has been filed under Section 9 of the Insolvency and Bankruptcy Code by the Indian Performing Right Society, an Operational Creditor, before NCLT for initiation of Corporate Insolvency Resolution Process against the Company,” the company said in a stock exchange filing.
Zee said it will be filing its reply rejecting the claim. The quantum of the claims is Rs 211.4 crore.
“The Company will be filing its reply rejecting the claim on, inter alia, the ground that thereis a pre-existing dispute between the parties on the claimed amount, the claim is not inconsonance with the interpretation of the law…
Read the full article at: https://www.businesstoday.in/latest/corporate/story/operational-creditor-files-rs-211-cr-insolvency-case-against-zee-entertainment-358613-2023-01-02