ZEEL set to appeal against NCLT order

Mumbai: ZEE Entertainment Enterprises is set to appeal against the NCLT order, according to media reports.

The network is expected to contest that it did not have the opportunity to present its arguments. ZEEL may challenge NCLT’s jurisdiction regarding the non-compete fees issue.

The exchanges have also been asked to review whether the payment method for the non-compete fee between two Mauritius entities is in accordance with the relevant SEBI policies.

SEBI has passed an interim ruling against one of the promoters of the Essel Group, which owns Zee.