The petition has been filed for the “initiation of corporate insolvency resolution process against the company, claiming a debt and default of Rs. 211 crore towards royalty payable for utilization of literary and musical works”, the exchange filing noted.
An operational creditor has filed an insolvency case against Zee Entertainment Enterprises Ltd for allegedly defaulting on an amount of over Rs 211 crore, as a per a regulatory filing submitted by the company on January 2.
The operational creditor, Indian Performing Right Society Ltd (IPRS), has approached the Mumbai-bench of the National Company Law Tribunal (NCLT) andregistered its case underSection 9 of the Insolvency and Bankruptcy Code, 2016.
The petition has been filed for …
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