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The Supreme Court on Wednesday sought response of Ilaiyaraaja Music N Management Pvt Ltd (IMMA) on a plea of Sony Entertainment seeking to transfer to the Bombay High Court a fresh copyright dispute instituted by the music composer's firm in the Madras High Court. A bench comprising Chief Justice B R Gavai and Justice K Vinod Chandran took note of the submissions of senior advocate Abhishek Singhvi, appearing for Sony Entertainment, that a fresh lawsuit has been instituted by the IMMA in the Madras High Court after the top court dismissed a similar case. On July 28, the bench headed by the CJI had dismissed a plea of legendary music composer Ilaiyaraaja seeking to transfer a copyright dispute involving over 500 of his musical compositions from the Bombay High Court to the Madras High Court. Singhvi said, He is a music composer and I purchased the rights of his music. Now a fresh lawsuit has been filed in the Madras High Court. Singhvi argued that the ongoing dispute pertains to rig
Japanese technology and entertainment company Sony logged an 18% rise in profit for the fiscal year through March on healthy results at its music and video-game operations. Tokyo-based Sony Corp. said Wednesday that its annual profit totaled 1.14 trillion yen (USD 7.8 billion), up from 970.6 billion yen in the previous fiscal year. Annual sales were virtually unchanged, inching down to 12.957 trillion yen (USD 88 billion) from 13.020 trillion yen. One area that lagged among Sony's sprawling businesses was the financial segment, where revenue stalled. But its film division and its imaging and sensor solutions segment did well. Among the movies that fared positively at the box office for the fiscal year through March were Venom: The Last Dance, featuring the Marvel Comics superhero, and Bad Boys: Ride or Die, an action comedy, in which Will Smith and Martin Lawrence come back in their popular cop roles, the fourth installment in the series. Sony, which makes the PlayStation console
The National Company Law Tribunal (NCLT) on Tuesday accepted a petition by a Zee Entertainment shareholder seeking the merger of its Indian entity with Sony, which was called off last week despite regulatory approvals. The Mumbai-bench of NCLT issued a notice on a petition moved by Mad Men Film Ventures, a shareholder of Zee Entertainment Enterprises (ZEEL), directing Sony Pictures Network India, now known as Culver Max, to file a reply within three weeks. Mad Men Film Ventures on Tuesday filed the petition requesting both ZEEL and Sony to implement the merger as it was approved by the NCLT in August 2023. The tribunal did not agree to the arguments made by the counsel stating that the approval by NCLT was conditional and depended on various conditions, which may be fulfilled or waived off in writing. NCLT has kept the next date of hearing on this matter on March 12. Last week, the Sony Group Corp called off the merger with ZEEL following a stalemate over who will lead the merged
The National Company Law Appellate Tribunal (NCLAT) on Thursday adjourned the hearing to October 13 on a plea filed by Axis Finance against the merger of Zee Entertainment Enterprise Ltd (ZEEL) with Culver Max Entertainment, formerly Sony Pictures Networks India. The appellate tribunal on Friday will hear another plea filed by private lender IDBI Bank, which has also challenged the August 10, 2023, order of the Mumbai bench of the National Company Law Tribunal (NCLT) approving the merger. Counsel appearing for Axis Finance requested the tribunal to adjourn the matter to Friday when it will hear the same petition filed by IDBI Bank. During the proceedings, senior advocates Mukul Rohatgi and Arun Kathpalia - both representing ZEEL questioned the locus standi of Axis Finance to file such a petition and opposed passing any order. They also objected to the adjournment as IDBI's case arose out of a different set of facts, however, the appellate tribunal deferred the hearing of the case .