Wadia Ghandy & Co. Successfully represented Zee Entertainment Enterprises Limited in an arbitration initiated by a Non-Banking Financial Company (NBFC), securing a complete dismissal of claims exceeding ₹170 crore.
This outcome marks a significant commercial and strategic win for Zee.
From a legal standpoint as well, the Award is significant as it underscores the principles laid down in the Cox & Kings Judgment that the Group of Companies doctrine concerns only the parties to the arbitration agreement, and not the underlying commercial contract. The Award also reinforces that Letters of Comfort are not automatically enforceable as guarantees under Indian law, unless they contain clear and explicit language establishing binding obligations.
The matter was led by Managing Partner Bindi Dave, Partner Aman Gandhi, Senior Associate Vardaan Bajaj, and Associate Ojasvi Sharma
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