Mumbai: Zee Media Corporation Limited (ZMCL) has received approval from its board to take part in the bidding process to buy Reliance Broadcast Network Limited (RBNL).

In a regulatory filing, Zee Media said, "The Board of Directors of the Company, vide Resolution passed by circulation on May 5, 2023, have granted the approval to the Company to submit Expression of Interest (‘EOI') with Corporate Insolvency Resolution Professional (‘CIRP’) of Reliance Broadcast Network Limited (‘RBNL’) in relation to the "Invitation for Expression of Interest for Submission of Resolution Plan for Reliance Broadcast Network Limited" issued by CIRP appointed in terms of the extant provisions for Corporate Insolvency Resolution Process of RBNL." 

RBNL operates radio stations under the Big FM brand. It has reportedly been put under the corporate insolvency process by the National Company Law Tribunal. An advertisement has been issued seeking expressions of interest from interested entities.