Zee Entertainment Enterprises (Zee) and Indian Performing Right Society (IPRS) have settled their disputes, with the music artists' body agreeing to withdraw its insolvency petition against the media major.
In a regulatory filing, the Punit Goenka-managed media company said there is no penalty paid to IPRS. It, however, didn't disclose the terms of the settlement pact with IPRS. In January, IPRS filed an insolvency petition against Zee with the NCLT-Mumbai.
It took this step after the media major defaulted on a royalty payment of Rs 211 crore. At that time, Zee had rejected IPRS claim, citing that there is a pre-existing dispute between them on the claimed amount.
Source Link
Social media is bold.
Social media is young.
Social media raises questions.
Social media is not satisfied with an answer.
Social media looks at the big picture.
Social media is interested in every detail.
social media is curious.
Social media is free.
Social media is irreplaceable.
But never irrelevant.
Social media is you.
(With input from news agency language)
If you like this story, share it with a friend!
We are a non-profit organization. Help us financially to keep our to keep our journalism free from government and corporate pressure .
0 Comments