SIAC cites lack of jurisdiction, rejects Sony ‘s plea against Zee Ent

The Singapore International Arbitration Centre on Sunday rejected the emergency arbitration petition filed by Japanese major Sony against Zee Entertainment Enterprises over their failed merger, citing lack of jurisdiction, said a source privy to the development.

Sony Pictures Networks India had filed the petition against Zee Entertainment after terminating their merger that would have created a $10 billion entertainment giant with 25 per cent of the market share among the general entertainment channels.

A Zee spokesperson declined to comment on Sunday while an email sent to Sony Pictures Networks did not elicit any comments.