How Zee Ent can salvage its deal with Sony, experts weigh in

In what is likely to complicate merger plans for the Essel Group, the bankruptcy court on Wednesday admitted Zee Entertainment & Siti Group for insolvency proceedings.

IndusInd Bank had approached the tribunal against Subhash Chandra-promoted ZEEL, seeking payment of a default of over Rs 89 crore. Siti owes a total of Rs 850 crore to a group of nine lenders.