New Delhi, May 13 -- Zee Entertainment Enterprises Ltd (ZEEL) on Tuesday said the Arbitral Tribunal has rejected all claims filed by Aditya Birla Finance Ltd (ABFL) in a Rs.134 crore dispute linked to a loan extended to Siti Networks Ltd.

Zee share price rallied after the relief from the Arbitral Tribunal. Zee shares spiked as much as 4.39% to Rs.122.30 apiece on the BSE.

Aditya Birla Finance had initiated arbitration proceedings against Zee Entertainment Enterprises, seeking enforcement of a Letter of Comfort (LOC) allegedly issued by the company in connection with a Rs.134 crore term loan granted to Siti Networks. The finance firm had claimed that the LOC effectively served as a corporate guarantee and demanded that Zee be held liable...