The Jindal group had earlier made representations to the I&B ministry seeking action against the channel alleging blackmail by Zee news editors, who have denied the charge.
Sources told PTI that an inter-ministerial group of the ministry led by Additional Secretary J S Mathur had a meeting which stretched to several hours during which they heard detailed representations from both sides.
The committee would look into the merit of their claims in the coming days and will then take a decision, they said.
While the Jindal group had tried to draw the ministry's attention to the seriousness of allegations, the channel stressed that the matter is presently 'sub judice' and the allegations made by the Jindal group had not been proven in court, the sources said.
The battle between the Jindal group which is headed by Congress MP Naveen Jindal and Zee began after the former accused the editors of the channel of attempting to extort money from the firm.
Jindal has alleged that Zee News tried to extort Rs 100 crore in exchange for not airing stories linking his group to the coal blocks allocation scam and released a video-recording of meetings with executives of Zee TV as proof.
The allegations of the Jindal group had then led to the arrest of Zee News head Sudhir Chaudhary and Zee Business Editor Samir Ahluwalia. Chaudhary also has filed a criminal defamation complaint against Jindal and 16 officials of Jindal Steel and Power Ltd(JSPL).