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Zee Entertainment refutes Star India's Rs 8000 cr damage claims
Star India filed a claim for $940 million in damages against Zee Entertainment Enterprises in the London arbitral court over a terminated ICC TV rights deal. Zee denies the allegations and plans to contest the claims.
Star India, on September 16, filed a 'statement of case' before London Court of International Arbitration (LCIA) in which it declared termination of the alliance agreement and sought the damages in the now-terminated ICC TV rights deal case, from Zee.
Zee Entertainment Limited (ZEEL) has refuted Star India's claims including damages worth $940 million (around Rs 8,000 crore).
Star India, on September 16, filed a 'statement of case' before London Court of International Arbitration (LCIA) in which it declared termination of the alliance agreement and sought the damages in the now-terminated ICC TV rights deal case.
Denying such allegations, Zee asserted that the arbitration is still in its early stages and said that it "strongly contest all unfounded claims" and stated that it will defend its position on merit.
It added, “The company (ZEEL) categorically refutes all claims and assertions made by Star including its claims for damages. The arbitration is at its initial stage and the LCIA Arbitral Tribunal is yet to determine if the Company is liable in any manner. The Company will, on merits, strongly contest all unfounded claims by Star and reserves all its rights.”
Earlier in March, Star India had moved to the LCIA after Zee failed to comply with an Aug 26, 2022 agreement- under which Star was to license the television broadcasting rights for ICC tournaments to Zee for four years- from 2024 to 2027. Zee had quit the $1.4 billion deal after missing its first $200 million payment, saying it was not in a position to pay.
However, six months later, this week, Star India terminated the agreement with Zee.
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