Zee to pay IndusInd dues

Shares of Zee Entertainment Enterprises Ltd surged more than 9 per cent on Thursday on reports it has agreed to pay Rs 83 crore dues to IndusInd Bank, which will pave the way for the much-anticipated merger with Sony.

The Zee share soared 9.26 per cent, or Rs 17.50, to end at Rs 206.55 on the BSE.

Bloomberg has reported Zee will settle the dues worth Rs 83.7 crore as early as Friday following which the private sector lender could withdraw the insolvency proceedings initiated against the media firm.