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Essel Group secures extension from lenders to repay Zee’s debt

Updated : September 25, 2019 11:45 AM IST

Essel Group has confirmed that the majority of the lenders has agreed to extend the standstill agreement for a period of three to six months.

Among those who have provided this extension are HDFC MF, Aditya Birla SunLife MF, ICICI Prudential MF and Franklin Templeton, sources told CNBC-TV18.

CNBC-TV18 had earlier reported that Zee promoters met MF lenders for an extension of the September 30 deadline for the repayment of debt.

The extension request had come after a Delhi High Court-appointed arbitrator restricted Essel Group chairman Subhash Chandra from selling unpledged shares of Zee till October 16.
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