IPRS withdraws Zee insolvency plea

Leading broadcaster Zee Entertainment Enterprises Ltd on Monday said it has “mutually” settled disputes with the Indian Performing Rights Society (IPRS) and the insolvency petition filed against it by the latter has been withdrawn before the NCLAT.

“The Company and IPRS have mutually entered into the settlement agreement today (Monday) on such agreed terms by which all disputes and claims have been settled between the Company and IPRS and accordingly IPRS has agreed to withdraw the aforesaid insolvency petition filed by them,” a regulatory filing by Zee said.

Though Zee has not shared the terms and conditions of settlement but said it is “as per the settlement agreement entered into by the company and IPRS.