Zee Entertainment Enterprises Ltd (ZEEL) is seeking rapprochement with Sony Group as it makes a last-ditch effort to resurrect a $10 billion merger, according to industry sources. After the Japanese multinational firm pulled the plug on its $10 billion merger deal in January, the Indian company reached out again to Sony to reconsider the termination and offered for talks this month, a source said. On the other hand, Sony is understood to be evaluating the proposal from Zee.
This comes after both parties failed to arrive at an agreement on an appropriate valuation of the stake, a company executive said. Sterlite bought 51 per cent stake in Balco in March 2001 for Rs 552 crore (Rs 5.52 billion) when the National Democratic Alliance (NDA) government decided to divest the government stake in the public sector company.
During hearing of the dispute over supply of gas by RIL to RNRL at $2.34 per mmBtu, the bench headed by chief justice K G Balakrishnan said the two parties could arrive at a 'suitable arrangement' through arbitration, as the Bombay high court that approved the Reliance empire's demerger cannot spell what is the ideal arrangement.
Former Commonwealth Games gold-medallist Narsingh Pancham Yadav was elected chairman of the Wrestling Federation of India's Athletes' Commission in Varanasi on Wednesday, completing a process that was mandated by the sport's world governing body.
Sony Picture Network India (SPNI) management is committed to long-term growth in India and the company will actively explore new organic and inorganic possibilities to strengthen its presence in the country, company managing director and CEO, NP Singh told employees. In a letter, two-days after the calling off of the $10 billion merger deal with Zee Entertainment, he asked employees to focus on current projects, with an immediate goal to unleash the company's full potential, continuing to craft content that not only engages audiences but also boosts subscriber growth and revenues. "As we close the chapter on our proposed merger with ZEEL (Zee Entertainment Enterprises Ltd), I want to take a moment to talk to you - not just as your CEO but as someone who has been on this journey with you.
Petroleum secretary G C Chaturvedi said the arbitration notice grants a time of up to a month to respond and there was no hurry.
Ahmed Abdelwahed has been banned for four years and stripped of his silver medal from the 2022 European Athletics Championships.
The Supreme Court made it clear on Thursday it will not allow stalling of the arbitral proceedings pending before the Singapore International Arbitration Centre (SIAC) pertaining to the ongoing legal tussle between US e-commerce major Amazon and the Future Group, saying the sanctity of such proceedings needed to be maintained. "You (Future group and others) cannot keep stultifying the proceeding before the arbitral tribunal and this is just a ploy to delay the proceeding. "These are all ploys by well-heeled parties to delay the arbitration proceeding.
Vittorio Colao, who is currently on an India visit, said he would be open to listing his company in the country
The National Anti-Doping Agency's appeals' panel has exonerated middle-distance runner Shalu Chaudhary of doping charges and lifted her four-year ban after DNA testing revealed that her urine sample had either been tampered with or contaminated at the time of collection.
Former Australian judge Michael McHugh, who was appointed by Supreme Court to adjudicate on Reliance Industries' KG-D6 dispute, had slammed the government interpretation of his statements before quitting the tribunal.
Polaris Software Lab Ltd's board on Monday recommended initiating 'arbitration proceedings' in Singapore to resolve the commercial disputes with Bank Artha Graha.
Banned UEFA president Michel Platini has taken his appeal against a ban from soccer by FIFA to the Court of Arbitration for Sport (CAS), the Swiss-based sports tribunal said.
The National Company Law Tribunal (NCLT) on Tuesday admitted a fresh petition filed by a Zee Entertainment Enterprises Ltd shareholder seeking enforcement of the now-cancelled merger deal between ZEEL and Sony. The Mumbai bench of NCLT also directed Sony Pictures Network India, now known as Culver Max, to file a reply within three weeks and fixed the next date of hearing on March 12. On January 21, Sony Group Corp (SGC), the Japanese parent company of Sony Picture Network India (SPNI) and BEPL, announced the termination of the $10 billion merger agreement with ZEEL, while seeking $90 million for breach of conditions besides initiating arbitration.
The BCCI had imposed a five-year ban on Jadeja for his alleged role in the match-fixing controversy.
You don't prep for 2028 but for 2040, or even 2044. Sustained sporting excellence is based on mass support, grassroots development, and funding - and it is this trifecta India needs to work on, systematically, asserts Prem Panicker.
Former Wimbledon and French Open champion Simona Halep had her four-year doping ban cut to nine months.
The euro 14 billion French dairy major, Groupe Danone, has formally initiated arbitration proceedings to end its partnership with the Mumbai-based Wadia group.
Zee Entertainment on Friday said it has "pruned" its Technology and Innovation Centre (TIC) by about 50 per cent following the guidance of a special committee, which had conducted a critical assessment of its several business verticals. The MD & CEO has pruned TIC staff strength by 50 per cent to achieve a cost-effective structure, a Bengaluru-based business vertical of the company that offers technology solutions, Zee Entertainment Enterprises Ltd (ZEEL) said in an official statement.
The Delhi high court has directed SpiceJet to deposit "forthwith" Rs 75 crore that has to be paid to media baron Kalanidhi Maran and his Kal Airways towards interest on an arbitral award of Rs 578 crore. The high court said, admittedly, there is no modification of the February 13, 2023 order passed by the Supreme Court in the case, and hence it needs to be followed. "Since the judgment debtor (SpiceJet) had failed to pay an amount of Rs 75 crores to decree holder (Maran and Kal Airways), hence in terms of para 15 (ii) of the order dated February 13, 2023 of the Supreme Court, there is no other alternative except to call upon the judgment debtors to deposit the entire outstanding amount qua interest forthwith, thus is so directed.
Russian figure skater Valieva banned for doping, ROC loses Olympic gold
The Supreme Court on Friday refused to pass any order on a plea alleging that former IPL commissioner Lalit Modi made "scurrilous" remarks against former attorney general and senior advocate Mukul Rohatgi in a social media post.
Simona Halep is unsure if she will play again if the Court of Arbitration for Sport (CAS) does not uphold her appeal against a four-year doping suspension, the Romanian former world number one has said.
Foreign lenders to Enron Corp's $2.9 billion stalled Dahbol power project said on Thursday they had launched arbitration proceedings in a London court to recover their loans and exit from the Indian project.
Boxing is part of the Paris 2024 Olympics but the qualification bouts and the competition are being run by the IOC and not the IBA, as was the case in Tokyo.
Paramount Global has agreed to sell its 13 per cent stake in its Indian TV business to Reliance Industries for Rs 4,286 crore, the Indian firm said on Thursday. In a stock exchange filing, Reliance said it has signed a binding agreement with two subsidiaries of Paramount Global to acquire 13.01 per cent equity stake of Viacom 18 Media Private Limited held by Paramount Global. Similarly, in a filing on the US Securities and Exchange Commission (SEC), Paramount Global said the closing of the transaction is subject to the satisfaction of certain customary conditions, including receipt of applicable regulatory approvals, as well as the completion of a previously announced joint venture involving Reliance, Viacom18 and Star Disney.
"I do not think they (World Bank) are in a position to interpret the treaty for us. It is a treaty between our two countries and our assessment of the treaty is that there is a provision of graded approach," External Affairs Ministry Spokesperson Arindam Bagchi said.
'The vision now is not just to look at national highways as a number of kilometres, but quality as well.'
Under the India-South Korea Bipa, a party can drag the other to international arbitration if its investments are threatened.
Gift Nifty will provide Indian investors cues on how domestic markets could react to global events.
Wadia group-owned Go First will temporarily suspend flights on May 3 and 4 amid severe fund crunch, the airline's chief Kaushik Khona said on Tuesday.
Go First's lenders have agreed in principle to support the airline's request for Rs 400 crore interim funding to restart its operations. The airline temporarily halted operations on May 2, and its insolvency plea was admitted by the National Company Law Tribunal (NCLT) on May 10. On Wednesday, the airline's resolution professional Shailendra Ajmera submitted a business plan and a request for over Rs 400 crore funding to airline's committee of creditors (CoC).
Paula Badosa spoiled Simona Halep's return from a doping ban.
Days before Sony Group pulled the plug on the $10 billion deal, Zee group founder Subhash Chandra had written to Finance Minister Nirmala Sitharaman, blaming Sebi for trying to "scuttle" the merger of its flagship media firm Zee Entertainment Enterprise with the Japanese firm and subsequent investment in the merged entity. Alleging market regulator Sebi is "acting with a predetermined mind", the Zee group patriarch requested the finance minister to take the necessary steps "to safeguard the interest of the minority shareholders of Zee". Chandra in his letter dated January 16, seen by PTI, said Zee and all other people have been cooperating in the investigation related to the alleged fund diversion by promoters and expressed concern over a new notice issued by the market regulator to former directors of Zee.
Shedding its opposition, the Bar Council of India (BCI) on Wednesday took a significant decision to permit foreign lawyers and law firms to practise in areas such as foreign law, international legal issues and arbitration matters, saying that the legal fraternity here may be left behind if it sleeps over the matter.
Chauhan's men's 90kg bout against Sadegh Azarang failed to last the distance as the Iranian inflicted a 'khalol' -- comprehensive victory with 10 points -- to secure a 10-0 win.
NRAI has contested the disqualification of trap marksman Manavjit Singh Sandhu, who was barred from competition at the Asia Olympic Qualifiers because of "faulty" gun stock.
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