“We wish to inform that Standard Chartered Bank (the Bank) had sanctioned certain credit facilities to Siti Networks Limited (the Borrower) which were inter-alia secured by the DSRA support and undertaking of the Company,” ZEEL said in a regulatory filing.

ZEE, Standard Chartered ink pact to settle Siti loan default issue

Zee Entertainment Enterprises Ltd has entered into a one-time settlement agreement with Standard Chartered Bank for the loan taken by Siti Networks, a part of the Essel Group.

Merger progress: Zee settles dues with Standard Chartered

Zee Entertainment Enterprises Ltd (ZEEL) has entered into a one-time settlement agreement with Standard Chartered Bank for the loan taken by Siti Networks, a part of the Essel Group.

Zee enters one-time settlement with StanChar over Siti Networks loan

Standard Chartered Bank had sanctioned certain credit facilities to Siti Networks, which was inter-alia secured by Debt Service Reserve Account support and undertaking from Zee Entertainment.

Zee Inks One-Time Settlement With Standard Chartered For Siti Networks’ Loan Defaults

Zee Entertainment Enterprises Ltd (ZEEL) on Thursday said it has entered into a one-time settlement agreement with Standard Chartered Bank for the loan taken by Siti Networks, a part of the Essel Group.

Zee enters into a one-time settlement with Standard Chartered Bank for credit facility availed by Siti Networks

Standard Chartered Bank had sanctioned certain credit facilities to Siti Networks, which was inter-alia secured by DSRA (Debt Service Reserve Account) support and undertaking from ZEEL.

Zee enters into a one-time settlement with Standard Chartered for credit facility availed by Siti Networks

In 2017, Aditya Birla Finance had extended a term loan of ₹150 crore to Siti Networks under a credit arrangement letter. According to the lender, the interest rate was reduced from 16% per annum to 13% on the condition that Siti would reduce the outstanding loan to ₹75 crore before 2018 and Zee, a …

HC refers Siti Networks’ Rs 150-cr loan default case to arbitration

During the proceedings, senior advocate Mukul Rohatgi representing ZEEL, submitted that insolvency was initiated against the media firm for being a corporate guarantor for a loan provided to Siti Networks.

ZEEL shares slump 10% despite NCLAT relief. Here’s why

The National Company Law Tribunal has admitted an Indusind Bank plea for insolvency proceedings against Zee Entertainment Enterprises Limited (ZEEL).

NCLT admits plea for insolvency proceedings against ZEEL, Siti Networks

Zee Entertainment was part of a debt service reserve account guarantee agreement with IndusInd Bank for a term loan facility availed by Siti Networks.

Zee Entertainment sinks over 14% on insolvency admission

ZEE’s profit fell due to exceptional items pertaining to revenue recognition of Siti Networks, impairment of NCDs from Zee Learn, merger-related costs and provision for DSRA.

ZEE Entertainment shares drop on Q3 results, ahead of NCLT hearing. Will the stock test 52-week low?

Hasn't fared well - amongst the low performers

Performance

Seems to be overvalued vs the market average

Valuation

Lagging behind the market in financials growth

Growth

Average profitability - not good, not bad

Profitability

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

The stock has a moderate number of red flags

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

Siti Networks Limited is a holding company engaged in providing cable television network services, Internet services and allied services.