MUMBAI: The Supreme Court today directed three public sector banks to deposit within 15 days a sum of Rs 4 billion with the Prothonotary and Master of Bombay High Court, who would then remit the money to the bank account of BCCI.

The BCCI had filed a Special Leave Petition (SLP) before the Supreme Court aggrieved by the Bombay High Court order that prevented it from invoking bank guarantees following the termination of contract with Nimbus Communications.

However, if the BCCI?s suit fails, the said sum would be returned along with interest. Three nationalised banks namely Punjab National Bank, Indian Bank and Union Bank of India had helped Nimbus to furnish un-conditional bank guarantee to the tune of Rs 16 billion to acquire the BCCI media rights.

The bank guarantees had been given to secure payment of dues by the Nimbus to the BCCI.

The BCCI had entered into Media Rights License Agreement (MRA) with Nimbus Communications for the period from 1 April 2010 to 31 March 2014. In November 2011, the BCCI had terminated the MRA with Nimbus for default in payment and sought to encash the bank guarantees which were in the possession of BCCI.

However, the banks refused to pay the monies to the tune of Rs 16 billion under the unconditional bank guarantees. This compelled the BCCI to file summary suits against the three in the Bombay HC.

Much to the disappointment of BCCI, the Bombay HC granted the three banks leave to defend the suits on a condition that the banks deposit a sum totaling Rs 4 billion with the Prothonotary and Master of the Bombay HC, who would then redeposit the sums with the respective banks.

Earlier, Nimbus Communications was directed by the Bombay HC to secure the dues of BCCI by the way of bank guarantee. The order has not been complied by them and the Company faces contempt proceedings, the BCCI said.

NEW DELHI: The Supreme Court today issued notice to the Union of India, Jindal Steel and Power Ltd. and the Delhi Government on a petition by Zee News Limited (ZNL) praying for quashing of three FIRs, including the alleged extortion case, against the group and its editors.

A bench, headed by Chief Justice Altamas Kabir, asked for the response within four weeks.

The bench issued notice to them on another Zee Group plea which questioned the Centre?s showcause notice issued to it for airing a programme in which the news channel revealed the identity of the male friend and eye witness of the gangrape case on 16 December. The Centre had asked Zee to explain why its licence should not be terminated.

The Zee petition, which has been listed after four weeks, also seeks a stay of an Information and Broadcasting Ministry notice/communication of 31 January "to protect the Petitioners from unconstitutional state action violative of the Fundamental Right of the Petitioners under Article 19(1)(a)".

Earlier last month, the Delhi Court had taken cognizance of a defamation complaint against Congress MP Naveen Jindal and others and asked the Delhi Police to probe the role of Jindal and 16 other officials of his firm Jindal Steel and Power Ltd (JSPL) who are named in the complaint filed by Zee News Editor Sudhir Chaudhary.

Metropolitan Magistrate Jay Thareja asked the Station House Officer of the Tughlak Road in south Delhi to seize the minutes of meetings and other documents of Broadcast Editors Association (BEA) regarding termination of the membership of Chaudhary.

The Police had been asked to give a report within a month and the case listed for further hearing on 15 February.

Chaudhary had alleged that "false allegations" were leveled against him to tarnish his image.

"Keeping in view the fact that 15 out of 17 accused are residing outside the territorial jurisdiction of this court - PS Tuglak Road - and the law laid down in section 202 of the CrPC, it is directed that SHO, PS Tuglak Road (or his deputy) shall conduct an investigation qua the allegations made in the complaint," the court said.

It also said the SHO would investigate the role of each of the respondents relating to the two cause of actions described in the complaint.

Chaudhary, who filed his complaint through Zee News Ltd. counsel Vijay Aggarwal, had earlier said Jindal and JSPL officials had made "deliberately false" statements and registered a "false case" against him in the alleged Rs one billion extortion bid case and defamed him by leveling allegations against him at a press conference here.

?The Crime Branch of Delhi Police was doing one-sided investigation,? said Aggarwal. "Here on, the investigation will be under direction of the court and seizure of documents too,? he added, saying ?now truth will come out.?