The case pertains to the alleged unauthorised pledging of Zee Entertainment’s immovable properties in Hyderabad. The issue came to light after the company’s auditor reported in FY2018-19 that the title deeds of certain properties were missing. A subsequent probe by Zee found that four entities belonging to the Essel Group had pledged these properties as collateral to raise loans worth Rs 726 crore from Indiabulls Housing Finance in 2016.
