<ul><li>The National Company Law Appellate Tribunal (NCLAT) dismissed IDBI Bank's plea for insolvency proceedings against Zee Entertainment.</li><li>The appellate tribunal granted liberty to IDBI Bank to move a fresh plea for default outside of the period mentioned in section 10A of the Insolvency & Bankruptcy Code.</li><li>Section 10A of the Insolvency & Bankruptcy Code bars the filing of any application for initiation of the corporate insolvency resolution process for any default arising on or after March 25, 2020, for a period of one year.</li><li>The NCLT had already rejected IDBI Bank's plea, stating that it was barred under Section 10A of the Insolvency & Bankruptcy Code.</li></ul>

NCLAT Dismisses IDBI Bank's Plea For Insolvency Against Zee Entertainment

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