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IMAX Limited was incorporated as an Ontario Corporation, a sole shareholder of IMAX Corporation on 14/12/1998.

Respondent No.1-E-City Entertainment is a Company incorporated in India under the Companies Act, 1956, having its registered offence in the address mentioned in the title clause, in Mumbai. Respondent Nos.2 to 4 in the proceedings are the Essel Group Companies having their respective offices and place of business as indicated in the title clause and it is the specific contention of IMAX that the Respondents are the Companies within the Essel Group, which is a conglomerate, which owns and controls many companies and assets, including the E-City Entertainment. It is alleged that the conglomerate referring its companies as "our companies"

organizes them into 8 categories viz. Media, Technology, Entertainment, Packaging, Infrastructure, Education, Precious Metals and Healthy Lifestyles and Wellness.
The Essel Group controls media companies under the brand name of "ZEE" through ZEE TV as well as other group companies including E-City Entertainment.
Respondent No.1-E-City Entertainment Pvt. Ltd. is alleged to be a Company of the Essel Group, whose shares are held and controlled by one Dr.Subhash Chandra, Promoter of the Group alongwith his brothers and the family members.

6. It is the specific case of the Petitioner that after the Final Letter Agreement in form of Master Agreement was signed between the Parties, the Promoter of Essel Group went to New York to renegotiate the Master Agreement, but abruptly E-City Entertainment informed IMAX that it no longer intended to perform its obligations under the Master Agreement and an Email from the Assistant of Dr. Chandra informed IMAX that Essel Group unilaterally decided to breach the Agreement by communicating as below :-

Name of Shareholder No. of Shares % of holding Essel Group Promoter Mr.Atul Goel 1,546,623 19 Essel Group Promoter Mr.Laxmi Goel 26,15,637 32.13 Essel Group Promoter Mr.Arpit Goel 11,14,351 13.69 Essel Group Promoter Mr.Charu Goel 1,546,623 19 Essel Group Promoter Mr.Ankit Goel 13,16,885 16.18 37/168 CARBP-414-18.odt