Zee Entertainment’s shares jumped as a lot as 4.4% to an almost one-week excessive.(File)

Bengaluru:

Zee Entertainment Enterprises Ltd and IndusInd Bank Ltd informed an Indian tribunal immediately that they’ve settled a dispute over a mortgage default, paving the best way for the media firm’s merger with an area unit of Sony.

IndusInd began chapter proceedings in opposition to Zee Entertainment late final month over a default of 830.80 million rupees ($10.10 million).

Zee Entertainment challenged the transfer within the National Company Law Appellate Tribunal (NCLT), which put the insolvency proceedings on maintain.

IndusInd Bank, on Wednesday, informed the NCLT that it will additionally withdraw its objection to Zee Entertainment’s merger with an area unit of Japan’s Sony.

Zee Entertainment’s shares jumped as a lot as 4.4% to an almost one-week excessive. 

(Except for the headline, this story has not been edited by NDTV workers and is printed from a syndicated feed.)