Zee Entertainment and Induslnd Bank reportedly announced that the dues between the two entities have been settled. Hence, the National Company Law Appellate Tribunal (NCLAT) has disposed of National Company Law Tribunal (NCLT)'s order based on IndusInd's appeal, say news reports.

Both parties have been asked to bear the cost of the interim resolution professional's time.

The companies notified NCLAT that they have settled their payment dispute in March 2023.

In February, IndusInd Bank approached NCLT, asking to initiate insolvency proceedings against Zee, which came as a threat to the latter's merger with Sony. The move could have potentially stopped all transactions and asset transfers.