Zee Entertainment stock plunges after company admitted to insolvency proceedings

New Delhi, Feb 23 Zee Entertainment was down almost 9 per cent in trade on Thursday after the company was admitted in insolvency proceedings.

Zee Entertainment was trading at Rs 187.60 on BSE down by 8.89 per cent in noon trade. Its stock is at a 52 week low now.

In the petition filed by Indusind Bank Ltd. against the Company under Section 7 of the Insolvency & Bankruptcy Code, 2016, the National Company Law Tribunal, Mumbai Bench (NCLT) has pronounced its Order dated February 22 admitting the company to corporate insolvency resolution process under the provisions of the Code, Zee Entertainment said in a stock exchange filing.

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