Zee Entertainment Enterprises Ltd (ZEEL) shares are in focus on Tuesday after the Arbitral Tribunal rejected claims filed by the company and its subsidiary, Margo Networks Private Ltd, against RailTel Corporation of India Ltd.
Key Highlights:
- Arbitration Details:
ZEEL and Margo Networks initiated arbitration proceedings against RailTel, alleging wrongful termination of the Content on Demand Agreement and forfeiture of funds. They sought damages and reimbursement of costs. - Tribunal’s Decision:
The Arbitral Tribunal dismissed the claims made by ZEEL and its subsidiary while also rejecting RailTel’s counterclaims in the same proceedings. - Regulatory Filing:
ZEEL informed stakeholders about the tribunal’s decision through a regulatory filing, highlighting the legal setback.
