Key Points
ZEE Entertainment Enterprises Ltd (ZEEL) and Sony Pictures Networks India on Tuesday said they have settled their six-month-long dispute related to the failed USD 10-billion merger and have agreed to withdraw all claims against each other...
As part of the comprehensive non-cash settlement between ZEEL and Culver Max Entertainment Pvt Ltd (CMEPL), both have mutually agreed to withdraw all respective claims against each other, in the ongoing arbitration at the SIAC and all related legal proceedings initiated in the NCLT and other forums, said a joint statement...
Sony had moved before the Singapore International Arbitration Center (SIAC) immediately two days after the termination of the deal, saying ZEEL did not satisfy the merger conditions, initiated arbitration proceedings and claimed a termination fee of USD 90 million...
Later in May, ZEEL terminated the MCA by issuing a letter dated May 23, 2024, and it also sought a termination fee of USD 90 million from two Sony Group entities Sony Pictures Networks India (SPNI), now known as Culver Max Entertainment, and Bangla Entertainment (BEPL)...
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