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flag IDBI Bank files insolvency petition against Zee Entertainment over Rs 225.23 crore default.

flag IDBI Bank has filed a new insolvency petition against Zee Entertainment Enterprises (ZEEL) for a default of Rs 225.23 crore, citing a Debt Service Reserve Agreement linked to Siti Networks, where ZEEL was a guarantor. flag ZEEL has called the petition "malicious, fraudulent, and meritless," stating they plan to contest it and may pursue legal action against the bank. flag IDBI's previous attempts to initiate insolvency proceedings against ZEEL were dismissed by the courts. flag ZEEL claims the fresh petition will not impact their finances.

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