India's Zee falls on reports founder's creditors oppose personal insolvency repayment

Canara Bank

31/08/2026 10:48

** Shares of India's Zee Entertainment ZEE.NS fall as much as 14.4% to 86.90 rupees, lowest since May 27; last down 7.8%
** Creditors to Zee founder Subhash Chandra oppose repayment plan approved by National Company Law Tribunal for personal insolvency case, as per ET media report
** Dissenting creditors say 5 entities which voted in the insolvency proceedings were linked to Chandra's family, controlling 61.78% of voting share, as per ET report
** Plan would involve Chandra paying 65 million rupees ($682,522.18) against claims of 220.07 billion rupees, as per NDTV report
** Dissenting lenders include HDFC Bank HDBK.NS, Canara Bank CNBK.NS, LIC Housing Finance LICH.NS
** Zee Entertainment did not immediately respond to Reuters' request for comment
** More than 100.1 mln shares traded by 3:01 PM, 3.3x the 30-day avg
** Stock up 4% YTD
     
     
     
($1 = 95.2350 Indian rupees)

 (Reporting by Abhirami G in Bengaluru)
 ((abhirami.g@thomsonreuters.com))