Zee Chairman Provides Personal Guarantee on Payment Obligation
Feb 05 2019
News Category: Industry Update
According to media reports, Zee Group’s chairman has provided his personal guarantee for payment obligation of interest and principal. The deal will be signed between the media major and its lenders. Zee owes Rs. 13,500 crore to its lenders and has pledged the equity shares of its listed firms. These shares are partially held by mutual funds. In case the group fails to meet the obligation, it could mean another crises for the mutual fund industry.