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Zee Entertainment Denies Claims Of $10 Million IndusInd Bank Payments, Calls News Article “Speculative” 2023

Clarifying the veracity of the news item, Zee Entertainment Limited (ZEEL) has stated that while the corporation is looking into a number of different options, there is currently no indication as to which course of action the organization is likely to pursue in order to resolve the situation.

In a significant turn of events, Zee Entertainment Enterprises Ltd (ZEEL) has denied that it has repaid IndusInd Bank the money that was reported to have been paid back. In a filing with the regulatory authorities, Zee Entertainment has referred to the news item or story in question as being speculative.’

According to a filing that was made with the BSE, Zee Entertainment has provided answers to two inquiries while also shedding light on the news story that suggests this reimbursement. The over $10 million in debt that ZEEL owes to IndusInd Bank has recently come under scrutiny for a variety of reasons, most notably because IndusInd Bank has submitted a petition for insolvency to the National Company Law Tribunal (NCLT).

ZEEL has stated, in order to clarify the veracity of the news item, that although the firm is currently investigating numerous potential courses of action, there is no indication as to which resolution the company may choose at this moment.

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