BENGALURU :An Indian tribunal said on Friday it put on hold insolvency proceedings initiated against media company Zee Entertainment Enterprises by a bankruptcy court over a loan default.Shares of the company rose as much as 3.1 per cent on the news. The stay comes after Zee had challenged the order in
BENGALURU :An Indian tribunal said on Friday it put on hold insolvency proceedings initiated against media company Zee Entertainment Enterprises by a bankruptcy court over a loan default.The stay comes after Zee had challenged the order in National Company Law Appellate Tribunal on Thursday.
It had told the tribunal on Friday that its merger with a local unit of Japan's Sony Group Corp, will"get stuck" due to the initiation of insolvency proceedings against the Indian company.
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