SIS LIVE does not believe it will be paid the £15m it is owed for providing outside broadcast facilities at last year’s Commonwealth Games in India.
The firm has now entered into formal arbitration after a failed attempt earlier this year by British diplomats to recover the money from public service broadcaster Prasar Bharati.
David Holdgate, chief executive of SIS LIVE’s parent company SIS, told Broadcast the firm had been “caught in the crossfire” of political in-fighting in India.
“If we do have to write off £15m, that is about one year’s after-tax profit for us. It won’t kill us, but it is a blow to the business,” he said.
“I don’t have any faith that we will be paid, but we won’t be lessening our efforts to get the money. This is a lesson to those thinking of working in India.”