BCCI renegotiation &#39;impermissible&#39;: Zee
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Zee Telefilms has opened yet another flank in its legal battle with ESPN-Star Sports over the issue of cricket telecast rights for the next four years.
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ESPN-Star Sports on Monday announced that it has challenged the BCCI&#39;s decision to award conditional allotment of telecast rights for all cricket to be played in India to Zee Network in the Mumbai High Court.
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India has offered to consider Pakistani proposals on resolving the decades-old Kashmir issue if they are made formally. Pakistan&#39;s President, Pervez Musharraf, has informally floated some ideas on the future
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â¢ Cricket-Zee poised to bag lucrative Indian TV rights September 5, 2004 13:24:17 MADRAS, India, Sept 5  - India&#39;s cricket board is set to sell its lucrative television rights to Zee Network, the country&#39;s biggest listed media company, for $308
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EVEN as Zee Telefilms chalks out its strategy for the cricket rights, legal experts are of the opinion that the Bombay High Court&#39;s suggestion for a fresh round of bidding could open options for the other broadcasters who had lost out in the first round.
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&quot;In his meeting today with the Vice-President of India and later with the leader of Opposition, President Putin categorically rejected the interpretation given by some newspaper reports on his remarks yesterday about veto powers in an expanded Security
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BCCI President Jagmohan Dalmiya said at a press meet in Kolkata yesterday that four options were floated by the board before the Bombay High Court, but neither ESPN-Star Sports nor Zee Telefilms paid any attention to it.
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(InfoWorld) - Vodafone Group and the Essar Group couldÂ lock hornsÂ over the Indian company's demand to share management of Hutchison Essar, a large Indian mobile phone network operator. Essar claims it has the right to first refusal for any sale of equity in Hutchison Essar by Hutchison Telecommunications International Ltd. (HTIL), a claim denied by both Vodafone and HTIL. "We want joint management and a partnership of equals," a spokesman for Essar Group in Mumbai said Tuesday. Although the Essar Group would leave the day-to-day management of the company to Vodafone, it wants to be consulted on all strategic decisions, the spokesman said. The Essar Group, which holds 33 percent of the equity in Hutchison Essar, is scheduled to negotiate later this week a shareholder agreement with Vodafone, which hasÂ agreed to acquireÂ a 67 percent interest in Hutchison Essar from HTIL. The Essar Group claims that in its shareholder agreement, it has the right of first refusal if HTIL sells its equity, and that it may use this clause in the agreement to bargain with Vodafone. That view, however, isn't shared by Vodafone CEO Arun Sarin, who last week told reporters that the Essar Group's right of first refusal doesn't apply to its agreement to acquire HTIL's stake. Nor does HTIL agree with the Essar Group. The right to first refusal applies only to the sale of equity by HTIL to local Indian competitors, the company said. The Essar Group is not a portfolio investor in Hutchison Essar and wants a say in running the business, the spokesman said. The arrangement would be similar to the one that the Essar Group had with HTIL and that helped grow the business for Hutchison Essar, he added. While announcing its agreement to acquire a controlling stake in Hutchison Essar, Vodafone also made an offer to acquire Essar Group's stake at the same price per share offered to HTIL. If the Essar Group sells its stake, Hutchison's local partners, which together have a 15 percent interest in Hutchison Essar, will increase their interest to 26 percent, Vodafone said. Current Indian rules restrict foreign ownership in telecom service providers to 74 percent. Vodafone expressed interest, however, in having the Essar Group continue as a joint-venture partner. Indian joint ventures of multinational technology companies have typically ended with the foreign company buying out the local joint venture partner. In 1991, for example IBM set up a 50:50 joint venture with India's Tata Group to meet Indian government regulations restricting foreign ownership in computer companies. When that restriction was eased, IBM bought out Tata's share. Last week, however, the Essar Group said it would not exit from Hutchison Essar and would even be interested in increasing its stake in the mobile phone operator if an opportunity arose, the spokesman said.
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The government deferred on Thursday a decision on plans to sell stakes in engineering firm BHEL and carmaker Maruti Udyog Ltd, a move analysts saw as bowing to pressure from the government's communist allies.
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The Delhi High Court has granted bail to the Bazee.com CEO, Avnish Bajaj in the MMS scandal. But the court has asked Bajaj not to move outside India.
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NEW DELHI: Amidst indications that some new ideas may be put on the negotiating table when talks at the foreign secretary level between India and Pakistan begin tomorrow, flexibility has become a key word in taking forward the peace process between the
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Mumbai, Sep 12 (UNI) Zee Telefilms will submit an affidavit in the High Court tomorrow stating whether they were ready for the court&#39;s proposal on submitting fresh bids.
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New Delhi, Sept. 29: The Centre today told the Supreme Court the cricket board could be defined as a state under Article 12 of the Constitution, in a new twist to the battle over telecast rights between Zee TV and the BCCI.
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Jagmohan Dalmiya, the president of the Indian cricket board, has blamed Zee Telefilms and ESPN-Star Sports, the opposing parties in the telecast-rights issue, for putting the Australian series in jeopardy.
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India's supreme court seeks clarification from a politician  over remarks made at an election meeting in Gujarat.
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The Indian cricket board said on Wednesday it was making arrangements on its own to broadcast next month&#39;s test series against Australia, which is under threat because of a raging TV rights dispute.
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ZEE Telefilms Ltd (ZTL) has decided not to re-bid for the rights to broadcast cricket matches played in India. &quot;The board of directors in its meeting on September firmly decided against re-bidding,&quot; ZTL said in a press release issued here on Tuesday.