NCLAT defers hearing on IDBI’s plea against Zee Entertainment
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IDBI Bank has challenged the order of the National Company Law Tribunal (NCLT) seeking approval to initiate insolvency proceedings against Zee Entertainment Enterprises Ltd.
New Delhi. The National Company Law Appellate Tribunal (NCLAT) on Wednesday adjourned till August 17 the hearing on IDBI Bank’s plea against Zee Entertainment. IDBI Bank has challenged the order of the National Company Law Tribunal (NCLT) seeking approval to initiate insolvency proceedings against Zee Entertainment Enterprises Ltd. The Mumbai bench of NCLT dismissed the bank’s plea on May 19, 2023.
The bench said that doing so is prohibited under Section 10A of the Insolvency and Bankruptcy Code (IBC). When the matter was taken up for hearing on Wednesday, the lawyers sought an adjournment. On this, a bench of NCLT Appellate Tribunal Chief Justice Ashok Bhushan and member Varun Mitra listed the matter for hearing on August 17.
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