New Delhi: Zee Media Corporation Ltd on Monday said that a pre-institution mediation proceeding has been initiated against the company alleging infringement of certain copyright material. The mediation has been filed before the Alternative Dispute Redressal Center in Barasat, Kolkata, in terms of Section 12A of the Commercial Courts Act, 2015.
In a regulatory filing to the stock exchanges, the company said the proceeding has been initiated by Mr Saumyajit Sen, also known as Ronny Sen.
The matter will be taken up at the Alternative Dispute Redressal Center located at Zila Adalat Bhawan, North 24 Parganas.
According to the disclosure, the dispute pertains to an alleged infringement of copyright material by Zee Media.
The opposing party has claimed damages of ₹18.11 crore along with interest at the rate of 18%.
However, the company said that based on its preliminary assessment, it does not expect any financial implications arising from the claim.
Zee Media added that it is in the process of seeking legal advice and will defend the matter appropri ately.