Zee Entertainment Share Price Falls 10%, Extends Losing Streak To Four Sessions

The Zee Entertainment share price dropped sharply during Monday’s session, with the stock touching an intraday low of ₹86.90. At 11 am, shares were trading 9.5% lower at ₹91.87 on the exchange.

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Stock Extends Decline For Fourth Day

The latest fall takes the stock’s decline into a fourth straight trading session. Zee Entertainment Enterprises has remained in focus following the National Company Law Tribunal’s (NCLT) decision on the repayment plan submitted by Subhash Chandra in his personal insolvency proceedings.

Shares of the company had come under pressure during the previous trading sessions, with Monday’s decline adding to the recent weakness.

The Zee Entertainment share price moved between ₹86.90 and ₹91.87 during the session up to 11 am, reflecting heavy selling pressure in the stock.

NCLT Approves Repayment Plan

The NCLT approved Chandra’s repayment proposal last week in connection with his personal insolvency case. Under the approved plan, creditors are set to recover ₹6.5 crore against admitted claims of ₹22,006.57 crore.
The amount approved for repayment represents a recovery of only a small portion of the admitted claims, resulting in a haircut of nearly 99.97% for creditors.

The insolvency proceedings concern Chandra in his personal capacity. The NCLT order and the resulting creditor recovery terms have brought the matter back into focus for companies and lenders connected with the case.

Lenders Challenge NCLT Decision

Several creditors have decided to challenge the tribunal’s approval of the repayment plan. Union Bank of India, Canara Bank and LIC Housing Finance are among the lenders seeking to contest the decision.
The move keeps the repayment arrangement subject to further legal proceedings. The challenge by lenders follows the NCLT’s approval of the plan and their assessment of the recovery available under the arrangement.

The development is also being monitored alongside the company’s share-price movement. The Zee Entertainment share price has declined for four consecutive sessions, with Monday’s 10% fall marking the sharpest move in the latest stretch.

Insolvency Case Remains In Focus

The admitted claims of ₹22,006.57 crore stand substantially above the ₹6.5 crore recovery proposed under the repayment plan. The difference between the two amounts forms the basis of the nearly 99.97% haircut faced by creditors under the approved arrangement.

The legal battle in Chandra’s personal insolvency case continues, with lenders moving to challenge the NCLT order. The stock’s slide in four sessions comes as the repayment plan and subsequent creditor challenge continue to dominate headlines for Zee Entertainment shareholders.