This is to inform that company is in receipt of notice of Pre-Institution Mediation proceeding initiated against the Company before the Alternative Dispute Redressal Center, Kolkata.
ZEEMEDIA · price
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Zee Media Corporation has received intimation that a Commercial Suit has been filed against the company before the Hon'ble Commercial Court at Rajarhat, Kolkata. The suit was initiated by Mr. Saumyajit Sen alias Ronny Sen regarding alleged copyright infringement of certain material. The plaintiff has sought a permanent injunction and claimed damages of Rs. 18.11 crore along with 18% interest. This follows earlier Pre-Institution Mediation proceedings initiated against the company. The company states it has received legal counsel and is defending the matter, and based on preliminary assessment, expects no financial implications.
The claim amount of Rs. 18.11 crore is significant, but the company has denied any expected financial impact and is defending the suit. Until the matter is resolved, there may be legal costs and some reputational uncertainty, though this is a civil copyright dispute rather than a regulatory or fraud matter.