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Zee Said Set to Pay IndusInd $10 Million to Wrap Sony Deal

  • The repayment of dues could happen as early as Friday: sources
  • Deal to create a $10 billion media firm has got all approvals
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Zee Entertainment Enterprises Ltd. has agreed to repay dues owed to IndusInd Bank Ltd. as the company seeks to resolve insolvency proceedings initiated against it and inch closer to completing a merger with a Sony Group unit to create a $10 billion media giant, people familiar with the matter said.

The settling of dues of about 837 million rupees ($10 million) to the lender could happen as early as Friday and the Mumbai-based bank has agreed to withdraw its insolvency proceedings against the media company once the repayment is made, the people said, asking not to be named, as the information is not public.