Zee clears hurdle for merger with Sony

Zee Entertainment Enterprises Ltd on Wednesday said it has entered into an agreement with IndusInd Bank Ltd to settle all disputes and claims between the two parties.

On February 24, the National Company Law Appellate Tribunal (NCLAT) stayed the insolvency proceedings that was initiated against Zee Entertainment Enterprises Ltd (ZEEL) on a petition filed by IndusInd Bank before the National Company Law Tribunal (NCLT).

In a regulatory filing on Wednesday, ZEEL said, “… the company and IndusInd Bank Ltd have entered into a settlement agreement by which all disputes and claims have been settled between the company and IndusInd Bank Ltd”.