New Delhi, Dec 12 (IANS): The Supreme Court has agreed to examine a plea filed by IDBI Trusteeship Services against National Company Law Appellate (NCLAT) orders refusing to initiate insolvency proceedings against two promoter companies of Zee Entertainment Enterprises Ltd (ZEEL).
On Monday, a bench headed by CJI D.Y. Chandrachud issued notice in the matter and sought responses of Direct Media Distribution Ventures and Cyquator Media Service within a period of four weeks.
In an order passed in September this year, the NCLAT dismissed IDBI Trusteeship Services Limited (ITSL) plea as barred under Section 10A of Insolvency and Bankruptcy Code (IBC), 2016.
Section 10A mandates that no application for initiation of corporate insolvency resol…
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