Financial Daily from THE HINDU group of publications
Sunday, Apr 03, 2005
Financial Daily from THE HINDU group of publications Sunday, Apr 03, 2005 |
|
|
|
|
|
Corporate
-
Corporate Disputes Industry & Economy - Radio/TV Zee Telefilms serves notice to BCCI, seeks Rs 1,630-cr compensation Our Bureau
New Delhi , April 2 SUBHASH Chandra-promoted Zee Telefilms on Saturday served a notice to the Board of Control for Cricket in India (BCCI) and the former BCCI President, Mr Jagmohan Dalmiya, claiming Rs 1,630 crore as compensation for losses on account of cancellation of the four-year cricket rights. The company has said that it has appointed a leading international accounting firm to prepare a detailed report calculating the damages caused to it. "The preliminary estimate of such damages is Rs 1,630 crore," it said. The Zee Telefilms Executive Vice-President, Mr Himanshu Modi, said, "It has been found by High Court that Zee has been wronged and not only deprived of its legitimate business opportunity, serious losses have been caused to us. We therefore give notice of our intent to claim damages from BCCI and Mr Dalmiya jointly and severally for the losses already caused to us." The company has said that the notice is being given to BCCI and Mr Dalmiya to invite the Board to form a committee that could jointly consider this matter, in order to arrive at an agreed figure, so that further costs and expenses are saved - failing which it shall hold BCCI and Mr Dalmiya liable for any further costs and expenses incurred by it. Zee has given them a fortnight to respond. According to the company spokesperson, Zee is keen on settling the dispute "amicably" but many attempts to approach the BCCI President, Mr Ranbir Singh Mahendra, has been fruitless. The broadcasting company has been involved in a legal tangle after the Cricket Board decided to arbitrarily cancel the telecast rights awarded to Zee Telefilms.
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|