Zee Entertainment Enterprises Limited (ZEEL) has strongly opposed an insolvency application filed by IDBI Bank Limited before the National Company Law Tribunal (NCLT), Mumbai. The bank, claiming to be a financial creditor, has sought initiation of the Corporate Insolvency Resolution Process against the company under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, alleging a default of ₹225.22 crore.
In a regulatory filing dated September 10, 2025, ZEEL confirmed receipt of the petition and stated that the application was filed with mala fide intent to harass and damage the company’s reputation. ZEEL described the plea as “malicious, fraudulent and meritless,” asserting that it constitutes an abuse of the legal…