Zee (Photo: Bloomberg)
').insertAfter(".article-content__img");$(".article-content__img div").find('div').remove();
NSE Removes Zee Entertainment From F&O Segment Post Insolvency Fallout
"No fresh month contracts will be issued on the expiration of February 2023 contracts," the exchange says in a circular
Topics
Zee Entertainment | Companies | Bankruptcy
Zee Entertainment Enterprises Limited (ZEEL) has been barred from the futures and options (F&O) segment of the National Stock Exchange (NSE) as a result of the bankruptcy board's decision to include the media company in the insolvency process.
"ZEEL has been shortlisted under insolvency and Bankruptcy Code (IBC) framework," NSE said in a circular.
The exchange said in a circular, "No fresh month contracts will be issued on the expiration of February 2023 contracts. All existing contracts with March and April expiries shall continue."
NSE further said in the circular that a margin of 100 per cent shall be levied on all existing derivative contracts with effect from T+2 day which is, for all new positions created from February 27, 2023 onwards and on all existing open positions as on February 24, 2023.
No future and options shall be available for trading in the underlying ZEEL from April 28, 2023 owards, the cirular said. It added that after the expiry of existing contracts, further surveillance actions of price band/gross settlement and others as under the IBC framework shall be applicable with effect from April 28, 2023.
Subscribe to Business Standard Premium
Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!
First Published: Thu, February 23 2023. 22:11 IST
RECENT NEWS
Monzo Looks For US Banking License
Monzo is preparing a renewed push to secure a US banking licence, four years after abandoning its first attempt when tal... Read more
Crypto Firms Push Into US Banking
America’s cryptocurrency companies are scrambling to secure a foothold in the country’s traditional banking system, ... Read more
Parallel Banking: Stablecoins Are Now Global
Parallel Banking: How Stablecoins Are Building a New Global Payments SystemStablecoins—digital currencies pegged to tr... Read more
JPMorgan Deploys AI Chatbot To Revolutionize Research And Productivity
JPMorgan has deployed an AI-based research analyst chatbot to enhance productivity among its workforce, with approximate... Read more
Private Equity And Banks: The Complex Web Of Leverage
Private equity has emerged as a significant force in the global financial landscape, driving substantial growth and inve... Read more
Financial Watchdog Highlights Unresolved Vulnerabilities In Shadow Banking Sector
The world’s leading financial stability watchdog has issued a warning about the unresolved vulnerabilities within the ... Read more