Zee to file rejoinder on August 8 as JioStar raises ICC claim to $1003 mn

New Delhi: Zee Entertainment Enterprises Ltd is set to file its rejoinder in the arbitration against JioStar India (formerly Star India) on  August 8, 2025, in a dispute over sublicence rights for ICC Men’s and U‑19 cricket events. 

With Star’s latest claim pegged at USD 1,003 million, Zee faces a potential liability that could test its balance sheet and investor confidence.

The dispute dates back to an Alliance Agreement signed on August 26, 2022, under which Star agreed to grant Zee exclusive sublicence rights for ICC global events from 2024 to 2027, subject to Zee meeting payment and guarantee conditions. 

Star alleged Zee defaulted on the first instalment of USD 203.56 million and related guarantee fees and interest, and in January 2024, Zee countered that Star’s own conduct amounted to a repudiatory breach.

Star initiated proceedings at the London Court of International Arbitration (LCIA) in March 2024. By September 2024, it had quantified damages at USD 940 million, and on 13 June 2025, it raised its claim to USD 1,003 million.

Zee filed its Statement of Defence and a counter‑claim of USD 8.06 million plus interest in December 2024, arguing the company is not in default and that Star’s claims are unfounded.

A liability of over USD 1 billion (roughly over Rs 8,300 crore at current exchange rates) would represent a significant contingent risk on Zee’s books. 

The company’s management, relying on external legal advice and its own assessment, has said no material adjustment is required in the accounts and expects no lasting impact on its financial position.

With evidentiary hearings scheduled for November 2025, Zee’s immediate task is to strengthen its defence in the rejoinder due next month.