Zee Entertainment Share Price Today: Zee Entertainment Enterprises shares tumbled up to 6.89% to hit an intraday low of Rs 94.55 per share on the BSE in early trade on Monday.
At 9:34 am, Zee Entertainment shares were trading 6.55% lower at Rs 94.90 per share. In comparison, the BSE Sensex was trading 0.37% lower at 76,982 levels.
Zee Entertainment Shares: Trading Volumes
The decline was accompanied by active trading in the counter.
At the time of publishing, around 8.47 lakh shares worth Rs 8.18 crore had changed hands on the BSE. On the NSE, around 115.90 lakh shares worth Rs 111.67 crore had been traded.
Subhash Chandra Insolvency Case
Last week, the National Company Law Tribunal (NCLT) approved a repayment plan submitted by Zee Group founder Subhash Chandra in his personal insolvency case.
Under the plan, creditors will recover Rs 6.5 crore against admitted claims of Rs 22,006.57 crore, implying a haircut of nearly 99.97%.
The order was passed by NCLT Member (Judicial) Nilesh Sharma, who was brought in as a third member to resolve a split verdict between two members of the tribunal's original bench.
The tribunal approved the plan under Section 114 of the Insolvency and Bankruptcy Code (IBC), rejecting objections from a group of lenders led by LIC Housing Finance, which had termed the proposed payout "unviable and unlawful."
The NCLT held that once approved, the plan would bind all creditors under Section 115 of the IBC, including those who voted against it.
How The Case Started
The case originated from a personal guarantee Chandra had provided for a Rs 170-crore loan extended to Vivek Infracon, which subsequently turned bad.
Indiabulls Housing Finance, now renamed Sammaan Capital, approached the NCLT in 2022. The tribunal admitted the insolvency plea against Chandra in April 2024.
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