NCLAT bench stays Zee insolvency order; listed for Mar 29 now
Financial Express Mumbai|February 25, 2023
IN A RELIEF to Zee Entertainment Enterprises, the National Company Law Appellate Tribunal (NCLAT) has stayed an order to initiate insolvency proceedings against the media firm. The tribunal was hearing a petition filed by Zee MD & CEO Punit Goenka, seeking relief against an order issued by the Mumbai bench of the National Company Law Tribunal (NCLT) on Wednesday.
RAJESH KURUP Mumbai, February 24
NCLAT bench stays Zee insolvency order; listed for Mar 29 now

The bench of NCLAT chairperson Justice Ashok Bhushan and member (technical) Barun Mitra has sought a reply from respondents in two weeks. The case is now listed for final disposal on March 29. Till then, the NCLT order is stayed.

"We respect the decision taken by NCLAT and remain committed towards protecting the interests of all stakeholders. Our focus continues to be on the timely completion of the proposed merger," Goenka said.

On Friday, Zee's shares fell 1.58% to close at 195.60, its lowest since September 2021.

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