The allegations concerned Railtel's claimed monetary forfeiture and the improper termination of a Content on Demand Agreement
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According to a statement released by the media and entertainment company on November 18, Goenka had requested that the board remove him from his role as managing director of the business so that he may "focus" on his operational duties as CEO
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Citing breach of contract, the deal was worth $1.5 billion
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During the company meeting, the CEO of SPE shared that the merger deal between Sony Pictures Networks India (SPNI) and Zee fell through due to regulatory issues
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Gienka has been the CEO of the company for more than 15 years
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