Naveen Goel Law Offices and Olswang have closed the Rs 250 crore contract negotiations for UK broadcaster SIS Live, which bid for the broadcasting rights to the 2010 Commomwealth Games with Indian public broadcaster Doordarshan and Prasar Bharati.

Olswang London partner Mark Bertram advised SIS on the English Law aspects of the transaction, while Naveen Goel Law Offices advised the winning bidder in the tender floated by Prasar Bharti.

Doordarshan and Prasar Bharati used their in-house counsel to manage the transaction.

The contractual negotiations concluded in March and also involved the Solicitor General of India and the Oversight Committee,

Naveen Goel Law Offices managing partner Naveen Goel commented: “This is an example of utmost good faith in contract negotiations. SIS Live had been awarded the contract in October 2009 and even though the contract terms could not be agreed in October, SIS Live continued to perform its duties as per the tender terms, recognising the importance of this event for India.

“Finally, after months of negotiations, where both parties have recognized the constraints of the other, a consenus on the contract could be reached.”

SIS will provide High Definition TV (HDTV) coverage and production of footage of the event, which will take place in Delhi from October 2010.