Zee Entertainment shares plunge 14% after NCLT approves 99.97% loan haircut for founder Subhash Chandra

Zee Entertainment's share price fell 14% on Monday following NCLT approval of a repayment plan linked to founder Subhash Chandra. The plan provides for recovery of approximately Rs 6.5 crore against total admitted creditor claims of Rs 22,006.57 crore, representing a 99.97% haircut on dues.

The sharp decline in share value reflects investor concerns over the debt resolution outcome and its implications for the company's financial health and creditor recovery.