Zee Entertainment Enterprises (ZEEL) has filed a counterclaim of $8.06 million, along with interest, against Star India in an ongoing dispute over broadcasting rights for the International Cricket Council’s men’s tournaments over the next four years.
In a regulatory filing, the company stated that Star on September 16, 2024 had claimed damages of USD 940 million, along with costs, expenses and applicable interest until full payment from Zee in the Statement of Case filed before the London Court of International Arbitration.
The Company has also filed a Statement of Defence, counter claim of USD 8.06 million and interest on the counter claim amount before the Arbitral Tribunal. The management, based on a legal opinion and its internal assessment, has determined that the Company is not in default of the Alliance Agreement and believes that the claims made by Star are unfounded and legally not tenable. The Company has strong and valid grounds to defend any claims in respect of the above matter.
The counterclaim pertains to the Rs 69 crore payment made by ZEEL to Star under their agreement.
On 23 December 2024, ZEEL submitted its statement of defence, denying all claims made by Star. The dispute is being overseen by a three-member arbitral tribunal appointed by the LCIA.
