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In the lead-up to Sony’s marquee broadcast of India’s tour of England 2025, the network is locked in a legal standoff with a leading DTH operator, Tata Play. In an exclusive with Storyboard18, Harit Nagpal- CEO and MD of Tata Play clarified that there has been no attempt to sabotage Sony's business by way of influencing advertisers or media agencies.

The ongoing dispute between Tata Play and Culver Max Entertainment (Sony Pictures Networks India) has intensified, with the matter now reaching the Bombay High Court. The development comes after the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) directed Sony to take down allegedly misleading messaging related to Tata Play’s platform.

Nagpal reiterated that Sony channels were not removed from the platform and that the current measures of removing Sony channels from base packs were aimed at making content delivery more affordable and relevant for users. When asked if Tata Play tried to influence advertisers and media agencies against the broadcaster to which Nagpal said, "I have a job to do—and that does not include meddling in advertising decisions. I do not earn anything from advertising, nor do I track how much it costs. Advertising is not my domain, and any suggestion that I’m influencing media agencies or advertisers against Sony is completely baseless."

Nagpal further said, "Do I have any personal enmity with them? If I had enmity, I wouldn't be carrying it. I am carrying their channels and I am paying them money. Every day, new customers are activating these channels. We’re facilitating that. We even display numbers and ask customers to call and activate them. In fact, the more activations that happen, the more revenue I earn."

TDSAT on May 27 ordered Tata Play to pay ₹40 crore and stayed the disconnection, the tribunal also restricted Culver Max from displaying on-air scrolls — a direction that was later extended to include online communication.

Calling the order arbitrary and in violation of Articles 14, 19(1)(a), and 19(1)(g) of the Constitution, Culver Max has requested the High Court to quash the TDSAT's gag directive and stay its implementation until the final verdict. The matter is listed for hearing on June 16. 

Asked if the DTH operator is trying to arm twist the broadcaster due to its upcoming India tour of England by taking off Sony channels from the platform, to which Nagpal said, "This is not a channel takedown situation. When someone has a dispute and takes down a channel, it means none of their subscribers can view it. That's not the case here. We’ve not removed any Sony channels from Tata Play’s platform. This is a regular practice we follow, driven by data and aimed at improving affordability for our subscribers."

Nagpal further said, "We observed that there’s a wide gap between channels people subscribe to and the ones they watch. Often, when channels are bundled, people pay for all but watch only one or two. We particularly monitor customers who are slow to recharge—5, 7, sometimes even 15 days late. That’s an indicator they don’t see value in what they’re paying. We remove channels for users who are least engaged but also offer them a way to bring it back."

TDSAT in its order had directed both the parties to reconcile the matter. When questioned if Culver Max and Tata Play are willing to reconcile to resolve the dispute to which Nagpal said, "There’s no need for reconciliation. The issue stems from a notice we received claiming that we owe ₹128 crore. We are paying them and the outstanding amount will be paid too. There is no dispute of payment."

<a href="https://www.storyboard18.com/television/exclusive-we-have-not-discontinued-sony-says-harit-nagpal-md-and-ceo-of-tata-play-69880.htm">Read more: EXCLUSIVE: "We have not discontinued Sony," says Harit Nagpal, MD and CEO of Tata Play</a>


No enmity with Sony, not influencing advertisers or media agencies: Tata Play's Harit Nagpal

The ongoing dispute between Tata Play and Culver Max Entertainment (formerly Sony Pictures Networks India) has intensified, with the matter now reaching the Bombay High Court. The development comes after the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) directed Sony to take down allegedly misleading messaging related to Tata Play’s platform.

Tata Play MD and CEO Harit Nagpal, in an exclusive conversation with Storyboard18, clarified that no Sony channels were removed from the platform and that the current measures are aimed at making content delivery more affordable and relevant for users.

Nagpal said, “Sony was running a ticker claiming “Tata Play has dropped Sony channels” and even directing viewers to contact other operators. That created confusion. So, we approached TDSAT. The tribunal directed Sony to remove the ticker and cease miscommunication on social media. Sony has challenged this in the High Court, but the High Court hasn’t issued a ruling yet.” 

TDSAT on May 27 ordered Tata Play to pay ₹40 crore and stayed the disconnection, the tribunal also restricted Culver Max from displaying on-air scrolls — a direction that was later extended to include online communication.

Calling the order arbitrary and in violation of Articles 14, 19(1)(a), and 19(1)(g) of the Constitution, Culver Max has requested the High Court to quash the TDSAT directive and stay its implementation until the final verdict. The matter is listed for hearing on June 16. 

<a href="https://www.storyboard18.com/television/culver-max-moves-bombay-hc-against-gag-order-by-tdsat-in-tata-play-dispute-69797.htm">Read More: Culver Max moves Bombay HC against gag order by TDSAT in Tata Play dispute</a>

When asked if the DTH operator is trying to arm twist the broadcaster due to its upcoming India tour of England by taking off Sony channels from the platform, to which Nagpal said, "This is not a channel takedown situation. When someone has a dispute and takes down a channel, it means none of their subscribers can view it. That's not the case here. We’ve not removed any Sony channels from Tata Play’s platform. This is a regular practice we follow, driven by data and aimed at improving affordability for our subscribers."

Nagpal further said, "We observed that there’s a wide gap between channels people subscribe to and the ones they watch. Often, when channels are bundled, people pay for all but watch only one or two. We particularly monitor customers who are slow to recharge—5, 7, sometimes even 15 days late. That’s an indicator they don’t see value in what they’re paying. We remove channels for users who are least engaged but also offer them a way to bring it back."

Nagpal explained, "So, for a small subset of subscribers, we remove under-watched channels—channels with high reach but low viewership—for instance we remove those channels for 30-40% subscribers and reduce their pack price accordingly. For example, if their original pack was ₹300, we bring it down to ₹260. We inform subscribers that they can add back channels with a missed call, if they wish." 

When asked about the way to identify those subscribers to which Nagpal said, "For instance if I see that 55% of my subscribers have Sony packs and according to BARC data only 9-10 percent of them are watching the channel then there is a huge gap. I don’t have the means to detect who these 9-10 percent audience is, so we remove those channels. People who want to watch it recharge and enjoy the content. So far we have only seen only 13 percent of such loyal subscribers of Sony re-activating the channel while 87% are enjoying the content, which is available to them at low cost." 

When asked if consumers today re-activate the channel if taken out from the base pack to which Nagpal said, "Absolutely. Every time when new content airs, 10,000 to 20,000 subscribers give a missed call to re-add a channel. But only 13% of those whose packs were modified actually do that. The other 87% enjoy the lower cost and recharge more frequently. It’s a win-win for them and for us, even though I lose revenue. I'd rather retain a subscriber at ₹250 than lose them at ₹300."

TDSAT in its order had directed both the parties to reconcile the matter. When asked if Culver Max and Tata Play are willing to reconcile to resolve the dispute to which Nagpal said, "There’s no need for reconciliation. The issue stems from a notice we received claiming that we owe ₹128 crore. We are paying them and the outstanding amount will be paid too. There is no dispute of payment."

According to TATA Play, despite a decade-long business relationship during which approximately ₹4,000 crore has been paid—including ₹700 crore annually in recent years— Sony Pictures Networks India's (Culver Max Entertainment) issued a sudden demand for ₹128.42 crore via a notice dated May 21, 2025. The DTH operator had argued that the amount was neither due nor payable and that significant payments had already been made following a prior communication from March 2025 seeking ₹300 crore.

At the time of publishing, Culver Max Entertainment had not replied to Storyboard18’s queries regarding the matter.

<a href="https://www.storyboard18.com/television/tdsat-stays-%E2%82%B9128-42-cr-demand-against-tata-play-orders-%E2%82%B940-cr-interim-deposit-67559.htm">Read More: TDSAT stays ₹128.42 cr demand against Tata Play, orders ₹40 cr interim deposit</a>

<a href="https://www.storyboard18.com/television/breaking-after-tata-play-airtel-tv-drops-zeel-channels-amid-tariff-dispute-69827.htm">Read More: Breaking: After Tata Play, Airtel TV drops ZEEL channels amid tariff dispute</a>

<a href="https://www.storyboard18.com/television/cable-operators-side-with-tata-play-urges-sony-to-refresh-content-69779.htm">Read More: Cable operators side with Tata Play, urges Sony to refresh content</a>



EXCLUSIVE: "We have not discontinued Sony," says Harit Nagpal, MD and CEO of Tata Play

In a growing standoff that raises questions about the power dynamics between distribution platform operators (DPOs) and broadcasters, major DTH players Tata Play and Airtel Digital TV have removed channels of Sony and Zee Network, respectively, from their base packs. Sources cite disagreements over tariff hikes proposed by the broadcasters.

Broadcasters, including Culver Max Entertainment (formerly Sony Pictures Networks India) and Zee Entertainment Enterprises Ltd (ZEEL), are allegedly demanding a 10–20% increase in annual subscription fees. However, DTH operators are resisting the hike, citing stagnant average revenue per user (ARPU) and increasing customer churn, especially in a price-sensitive market.

The dispute turned public in May when Tata Play dropped Sony channels from its packs. The DTH operator claimed the broadcaster displayed a scroll on channel for subscribers to move to other operator. Tata Play then approached the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) to challenge a ₹128.42 crore demand notice issued by Culver Max. TDSAT directed Tata Play to deposit ₹40 crore and temporarily stayed the broadcaster's disconnection notice.

Culver Max subsequently moved the Bombay High Court, contesting a TDSAT order that barred it from making public statements about the channel removals, signalling how contentious and complex the negotiations have become.

In a parallel development, Airtel Digital TV subscribers were caught off guard when Zee channels disappeared from their DTH packages. The move, which has not been accompanied by any transparent communication from ZEEL, is reportedly a result of Airtel’s resistance to subscription fee hike proposed by the broadcaster.

Industry veterans say this is not new. A senior broadcasting executive, requesting anonymity, told Storyboard18, "This is a common tactic used by DTH operators. When major sporting events or premieres are scheduled, they sometimes remove the channels to pressure broadcasters, impacting their viewership and advertiser interest."

Another broadcaster echoed the sentiment, adding, "Advertisers begin to question a channel’s reach. These removals directly impact channel's business. Content creation has become costly and it is an industry norm to increase subscription fee on timely basis to sustain business. In the long run, such hiccups will impact DTH operators, leading to subscribers to opt for other DTH or cable operator." 

However, Tata Play MD and CEO Harit Nagpal rejected allegations of coercion, clarifying, "This is not a channel takedown situation. When someone has a dispute and takes down a channel, it means none of their subscribers can view it. That's not the case here. We’ve not removed any Sony channels from Tata Play’s platform. This is a regular practice we follow, driven by data and aimed at improving affordability for our subscribers.” 

Nagpal further said, “We observed that there’s a wide gap between channels people subscribe to and the ones they watch. Often, when channels are bundled, people pay for all but watch only one or two. We particularly monitor customers who are slow to recharge—5, 7, sometimes even 15 days late. That’s an indicator they don’t see value in what they’re paying. We remove channels for users who are least engaged but also offer them a way to bring it back.” 

Airtel issued a similar clarification, stating that all Zee Network channels remain available on its platform and can be added individually at market rates. “Due to recent changes in broadcaster tariffs, Zee Network channels will no longer be part of the Airtel DTH base packs. These pack prices will be adjusted accordingly. All Zee network channels are available on Airtel DTH and can be added individually to the list of subscribed channel at their respective MRPs via channel selection options.” the company spokesperson said.

Meanwhile, regulators have been urged to step in. “Consumers don’t understand these disputes. If they don’t receive what they paid for, they simply migrate to other platforms. It’s time regulators intervened to protect viewer interests,” said another industry veteran.

Despite queries sent by Storyboard18, both Culver Max and ZEEL have not commented publicly on the matter.

<a href="https://www.storyboard18.com/television/breaking-after-tata-play-airtel-tv-drops-zeel-channels-amid-tariff-dispute-69827.htm">Read more: Breaking: After Tata Play, Airtel TV drops ZEEL channels amid tariff dispute</a>

<a href="https://www.storyboard18.com/television/culver-max-moves-bombay-hc-against-gag-order-by-tdsat-in-tata-play-dispute-69797.htm">Read more: Culver Max moves Bombay HC against gag order by TDSAT in Tata Play dispute</a>



Sony, Zee channels off DTH packs: Are DPOs 'arm-twisting' broadcasters?

Culver Max Entertainment Pvt. Ltd., the broadcaster behind channels like Sony SAB, Sony Max, and Sony Sports, has approached the Bombay High Court challenging an order by the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) that barred it from making public statements regarding Tata Play’s removal of its channels from DTH packs.

It should be noted that Culver Max has not challenged TDSAT order granting partial relief to Tata Play and stay on disconnection notice issued to the DTH operator.

In a writ petition (a copy of which is with Storyboard18) filed on June 6, Culver Max contends that the May 30 order by TDSAT is “ultra vires” and curtails its right to free speech and trade. The dispute stems from Tata Play’s decision in May to drop 25 Culver Max channels across 106 DTH packs, allegedly without prior notice, thereby violating both contractual terms and Telecom Regulatory Authority of India (TRAI) guidelines.

"The Impugned Order is wholly arbitrary, and discriminatory in as much as it prevents the Petitioner from being able to defend itself from allegations levelled against it by viewers/subscribers of its channels on social media platforms."

"In the absence of any specific finding that the content/messages/posts by the Petitioner were misleading,
defamatory or violative of any TRAI Regulations, the Impugned Order imposing restraint is arbitrary and
unsustainable in law. In fact, it is the pleaded case and admitted fact by Respondent No. 2 in its Broadcasting
Petition, as well as on the social media platform "X", that changes were made to its base packs and the Petitioner's channels were discontinued. The Hon'ble TDSAT has failed to consider these admissions"

Culver Max alleges that Tata Play not only failed to inform the broadcaster about the changes, but also misled subscribers by implying the channel unavailability was Culver’s fault. After receiving a slew of subscriber complaints on social media, Culver responded via public posts — prompting Tata Play to file an application before TDSAT seeking a restraint on such communications.

The tribunal’s order directed Culver Max to remove all posts relating to Tata Play from its social platforms, which the broadcaster claims amounts to overreach. “TDSAT is a creature of statute under the TRAI Act. It has no jurisdiction over social media posts governed by the IT Act,” the petition argues.

Petition states, "The Honourable TDSAT has exceeded its jurisdiction and travelled beyond the pleadings of the Broadcasting Petition by granting reliefs not prayed for in the Broadcasting Petition filed by Respondent No. 2." 

Further, Culver Max insists that Tata Play failed to comply with mandatory QoS regulations, including the requirement of a 15-day notice via on-screen scrolls before discontinuing channels. The scrolls, Culver Max claims, were aired during low-viewership hours and lacked clarity.

The broadcaster also said it issued a disconnection notice to Tata Play on May 21 for non-payment of over ₹128 crore in dues. While TDSAT on May 27 ordered Tata Play to pay ₹40 crore and stayed the disconnection, the tribunal also restricted Culver from displaying on-air scrolls — a direction that was later extended to include online communication.

Calling the order arbitrary and in violation of Articles 14, 19(1)(a), and 19(1)(g) of the Constitution, Culver Max has requested the High Court to quash the TDSAT directive and stay its implementation until the final verdict.

Culver Max moves Bombay HC against gag order by TDSAT in Tata Play dispute

Revenant Esports has become the first organization in the country to officially collaborate with a broadcaster to acquire a merchandising license. The gaming powerhouse has secured the merchandising and peripherals license for the iconic Naruto franchise through a formal partnership, making it a pioneering move that combines anime fandom with competitive gaming in India.

This marks Revenant’s foray into the anime-themed merchandise space, with plans to release exclusive products including team jerseys, gaming mice, and mousepads.

According to sources familiar with the deal, Revenant Esports, as the merchandise licensee, will pay a royalty fee of 18% on net revenues earned from the sale of merchandise, post recoupment of a Minimum Guarantee Fee. The revenue share will be paid monthly to the licensor. 

Rohit Jagasia, Founder and CEO of Revenant Esports confirmed the development and said, “The Naruto franchise in India has a huge following and we intend to merge its universe with our esports organization for creating a collaborative universe between esports fans and the Naruto franchise. We will be releasing our exclusive merchandise in the peripheral range including our team jerseys and computer peripherals such as gaming mouse, pads, etc. This collaboration will help enhance the brand presence across multiple categories.”

Sujoy Roy Bardhan, Head of Marketing, OAP, Licensing and Merchandising at Sony YAY!, confirmed the development, stating, "Naruto's viewership itself is a fairly large viewership. It is the single largest title that is watched on television today with respect to anime. Other than that, of course, the franchise extends on to Naruto Shippuden, which is like a follow-up series of Naruto."

Currently dominating India’s esports ecosystem with competitive rosters in Valorant, BGMI, Brawl Stars, and Pokémon Unite, Revenant Esports aims to build a crossover universe between esports and anime fans.

Anime meets Esports: Revenant secures Naruto merchandising rights

In a major development for cricket broadcasting, JioStar and Sony Pictures Networks India (SPNI) have announced a strategic collaboration to share media rights for India’s upcoming tours of England in 2025 and 2026. The partnership, unveiled today, promises to redefine how Indian cricket fans experience the game across digital and linear platforms.

As part of this groundbreaking agreement, JioStar will exclusively stream all matches—including Tests, ODIs, and T20 Internationals—on its digital platform, JioHotstar. SPNI, meanwhile, will retain television rights, broadcasting the series on its Sony Sports Network channels.

The marquee event of the collaboration is the highly anticipated five-match Test series in England, beginning June 20, 2025. The series will be live-streamed on JioHotstar and simultaneously aired on Sony Entertainment Television, ensuring seamless access for cricket enthusiasts across screens.

Commenting on the deal, Sanjog Gupta, CEO – Sports and Live experiences, JioStar, said, “This collaboration is a win-win for all stakeholders involved - especially Indian Cricket fans - and serves the broader sporting landscape. The combination of JioHostar's deep digital footprint with SPNI's broadcast network will universalise access to India's tours of England. As the habitual destination for Cricket viewing, JioHotstar is committed to offering millions of fans - inclusive, intuitive, interactive and immersive viewing experiences. We will continue to leverage the power of our story-telling, consumer-focussed product features and connectivity to unlock infinite possibilities of serving fans on our platforms.”

The series kicks off with the first Test at Headingley, Leeds on June 20, followed by matches in Birmingham (July 2), Lord’s (July 10), Manchester (July 23) and concluding at The Oval (July 31). The arrangement also includes the 2026 white-ball series, comprising three ODIs and five T20Is, to be played during India’s return tour of England.

The collaboration also covers the 2026 white-ball series, featuring three One-Day Internationals and five T20 Internationals during India’s subsequent tour of England.
 
“We are thrilled to bring this fantastic partnership to cricket fans for India’s tour to England! Backed by the power of the Sony TV network and the digital prowess of JioStar - This first of its kind partnership will hope to redefine cricket coverage. Our deep thanks to our partners in ECB for their support,” said Gaurav Banerjee, MD and CEO, Sony Pictures Networks India.

Sony Pictures Networks India secured exclusive India rights to England & Wales Cricket Board (ECB) properties in 2023 under an eight-year deal running through 2031. 
 
This announcement signifies a new chapter in Indian sports broadcasting—highlighting an industry-wide shift towards collaboration, convergence, and innovative content delivery.


JioStar and SPNI team up for exclusive coverage of India’s 2025-26 England Tours

SonyLIV's marquee show Shark Tank India is facing advertiser disinterest due to high rates and reportedly reduced reach. Experts have criticized Sony Picture Network India's move to limit this season of Shark Tank India only to its OTT platform. Lack of hype and reach for the show has now raised questions around around SPNI's marquee show.

Acko, PokerBaazi and Swiggy Instamart are the co-presenting sponsors, Adani and Jaquar are the co-powered by sponsors while Rayzon Solar, ICICI Direct, Lenskart and Sofy are the partner sponsors for Shark Tank India season 4.

The show was first streamed on January 6 and as per data on January 16, SonyLIV has claimed that this has seen a remarkable 40% surge in Connected TV (CTV) viewership and 22% more users tuning in to watch as compared to the previous season. Additionally, the platform has witnessed a 27% increase in engagement as compared to season 3. This season has witnessed a 100% user growth in 42 Tier 2 markets.

Additionally, experts and marketers argue that Rs 600 Cost Per Mille (CPM=1000 impressions) for a ten-second ad on mobile and Rs 1200 for 10 seconds ad on Connected TV is not only costly but has kept many brands away from advertising.

A top brand marketer on condition of anonymity told Storyboard18 that Rs 600 for a 10-second advertisement is just not worth investing in SonyLIV as compared to other OTT platforms. "I will instead opt for YouTube which is much cheaper and more efficient as compared to SonyLIV. We did advertise on Shark Tank India's previous seasons but this year due to its limited reach, we have opted out."

Citing content pilferage as a concern directly affecting the reach of the show, a senior media agency professional said, "SonyLIV has failed to crack down on piracy of its marquee show. With majority of viewership decline in tier II, III cities. Moreover, the brands are not showing any keenness to invest in the show. Brands cite high prices and low reach behind opting out of the show."

SonyLiv has declined to comment on the questions shared by Storyboard18.

<strong>Madhav Kasturia, founder of Zippee</strong>, a quick commerce logistics platform, pointed out that due to SonyLIV's crackdown on clips from the show on YouTube and other social media platforms has affected growth of brands featured in the show. "Sony traded mass visibility for OTT subscriptions but forgot that Shark Tank's power lies in its reach. Startups are barely scaling 2x sales. Last year, they were hitting 5-10x." Kasturia says.

A senior media agency professional said, "SPNI should not have limited Shark Tank India to only OTT. The show has a mass appeal and could reach a broader audience through Sony's extensive TV network. While OTT platforms offer convenience, they still need to overcome challenges like limited content libraries and intrusive ads to gain wider acceptance in India. Additionally, removing popular YouTube clips from previous seasons hindered the show's organic reach and engagement."

He also pointed out that piracy concerns and the show's decreased reach is making brands hesitant. He said, "The Indian entertainment industry lost Rs 22,400 crore in 2023 due to piracy, with 51% of consumers accessing content from pirated sources. Streaming services contribute the most to piracy at 63%. While piracy may be less prevalent in larger cities, it's rampant in tier-two and tier-three towns due to the overwhelming number of OTT platforms and a perceived lack of quality content."

Another senior executive from a prominent media agency said, "Shark Tank India's move to OTT highlights the shifting dynamics of content consumption in our market. Traditional TV still commands mass reach, but digital platforms deliver sharper audience targeting, richer engagement, and a more tailored viewing experience. The transition phase naturally brings adaptation hiccups, but it also opens new opportunities for brands to connect with a highly engaged, digital-first audiences."

Shark Tank India's transition to an OTT-exclusive model has presented significant challenges. High advertising costs, limited reach, and rampant piracy are creating a perfect storm for the show which even face the turmoil.

Shark Tank India hits roadblock: High costs, low reach

Jackie Shroff has approached the National Company Law Tribunal (NCLT) to assert his rights as a minority shareholder in Atlas Equinfin Pvt. Ltd. The NCLT has agreed to hear Shroff’s petition at a later date after Atlas Equinfin’s lawyer informed the tribunal that the buyback of Shroff’s stake is under consideration following the Supreme Court’s dismissal of the company’s appeal.

According to a media report, In the 1990s, Sony Group and Shroff partnered to launch a TV channel. A Joint Venture Agreement was signed in December 1994 to establish a holding company, Atlas Equinfin. Atlas held a 32% stake in Sony Entertainment, while Shroff held a 10% stake in Atlas Equinfin.

As part of the joint venture, the company’s authorized capital was increased to ₹1 crore, and shares were issued to stakeholders. However, in 1995, a significant portion of the non-resident stakeholders’ shares was transferred to a Mauritius-based entity.

In 2023, Shroff filed a petition alleging that his interests were negatively impacted due to management discrepancies and the dominance of majority shareholders. In February 2023, the NCLT found merit in Shroff’s claims of oppression and mismanagement, directing the majority shareholders to purchase his shares for ₹18.53 crore.

The NCLT concluded that buying back his 10% stake would help resolve the deadlock. The company then appealed the decision to the National Company Law Appellate Tribunal (NCLAT), which dismissed the appeal in September 2023, stating:

“The NCLT had decided to resolve the deadlock by issuing the appealed directions. Admittedly, the respondent cannot sell his shares on the open market since it is a private company and not publicly listed. Therefore, the NCLT’s approach to end the dispute among the directors/shareholders is not prejudicial to anyone and would rather facilitate the smooth running of the company.”

Following this, the company filed an appeal with the Supreme Court against the NCLAT’s order. On November 22, 2023, the Supreme Court dismissed the appeal.

In light of the Supreme Court's decision, the company informed the NCLT that it is finalizing the buyback process. The tribunal has postponed the hearing to January.

Actor Jackie Shroff files plaint in NCLT against former stakeholders of Sony Entertainment

The Bankruptcy Court in Mumbai recently dismissed an application filed by Phantom Studios India (PSIPL) that sought to implement the merger scheme between Zee Entertainment Enterprises Limited (ZEEL) and Sony Group companies, Bangla Entertainment Private (BEPL) and Culver Max Entertainment (CMEPL).

PSIPL, formerly known as Mad Man Film Ventures, held approximately 1.3 million shares of Zee Entertainment, valued at around ₹50 crore, at the time of its tribunal filing. Last month, the tribunal officially revoked its approval for the proposed $10 billion merger between ZEEL and Sony's Indian media units, CMEPL and BEPL.

"During the course of the hearing, we were informed that PSIPL attended the shareholder meeting and voted in favor of the scheme. As Section V, Paragraph 10 allows withdrawal by parties, PSIPL cannot insist on the scheme’s implementation," stated the division bench, consisting of Judicial Member Lakshmi Gurung and Technical Member Charanjeet Singh Gulati, in its October 24 order.

The companies also argued that the tribunal lacked the authority to enforce a scheme that had not taken effect and noted that the scheme's approval was conditional.

In August, ZEEL and Sony's Indian units reached a non-cash settlement to resolve all disputes stemming from their failed merger. Both companies agreed to withdraw claims in the ongoing arbitration at the Singapore International Arbitration Centre and related proceedings in the NCLT.

This settlement, focused on independently pursuing future growth, followed Sony’s January termination of the merger, citing ZEEL's unmet closing conditions and leadership disagreements. Sony subsequently filed a $90 million arbitration claim against ZEEL.

Mumbai Court dismisses Phantom Studios’ bid to enforce Zee-Sony merger scheme

On Tuesday, Sony Pictures Networks India (SPNI) announced three significant leadership changes, Nachiket Pantvaidya, an industry veteran with a rich and diverse career spanning multiple leading media companies, is now taking over as the Business Head of Sony Entertainment Television (SET). 

This marks his third stint with SPNI. While he joins SET, he will also continue to manage his role as General Manager at Sony Pictures International Productions (SPIP). In his previous roles, at SPNI which included managing P&L for SET, developing iconic franchises, and boosting advertising and distribution revenues. His broader role will enable him to leverage his extensive expertise to deliver exceptional entertainment experiences across both platforms.

Ajay Bhalwankar, who has been with SPNI since 2014, currently heads its Marathi channel. He previously served as the chief creative director for SPNI's flagship General Entertainment Channel, Sony Entertainment Television (SET). Under his leadership, Sony Marathi has seen significant growth, delivering high-quality, engaging content that resonates with Marathi audiences.

Ajay's strategic vision has enabled Sony Marathi to carve a niche in the crowded Marathi GEC market. His emphasis on progressive and relatable content has helped the channel capture a 9% market share. Moving forward, Ajay will additionally spearhead Sony SAB as its business head. With his experience and creative acumen, Ajay is well-positioned to bring fresh and engaging content to Sony SAB's diverse audience, further strengthening the channel's reputation for quality entertainment.

Tushar Shah is the Business Head of English, Bengali, and Infotainment Channels and the Chief Marketing Officer (CMO) at Sony Pictures Networks India (SPNI). He oversees prominent channels such as Sony PIX, Sony AATH, and Sony BBC Earth. With nearly 18 years of experience across two tenures at SPNI, Tushar has driven significant growth and profitability and enhanced viewership. His strategic leadership has also been crucial in the successful reach and expansion of Sony AATH in West Bengal. Going forward, Tushar will additionally oversee Sony MAX, Sony MAX HD, Sony MAX 2, Sony WAH and Sony PAL. His expertise will fuel further innovation across these channels, enhancing their market presence.


SONY