MAM
‘Spider-Man’ weaves a legal web around SPE, Marvel
LOS ANGELES : Spiderman may have seen Sony Pictures Entertainment set new box office records last year but like “Tobey Maguire”, the studio has now been “bitten” courtesy a lawsuit filed by Marvel.
The issue relates to the critical area of movie merchandising and a Reuters report indicates that the matter rests with a Los Angeles judge. A verdict is expected sometime next week.
As per the suit, the comics publisher of the super hero Marvel Enterprises wants to end its Spider-Man licensing agreement with SPE after the sequel is completed. Marvel has accused Sony of attempting to hijack the brand; claiming exclusive merchandising rights to the character; and “cross-promoting” the superhero with other Sony features in violation of their agreement. Through promotions, Marvel has alleged that Sony is trying to remove the connection one automatically makes between Spider- Man and Marvel.
SPE has stated that a jury trial where confidential information would be made available would undermine the studio’s future dealings with partners. Therefore it wants the issue to be settled through arbitration away from the public domain.
The movie studio argues that Marvel is using the litigation as leverage to secure better licensing terms. Sony is anxious that the license agreement and an internal marketing document are not made public. Information such as revenue projections, advertising budgets and royalty targets from the first Spider-Man movie, would undermine its ability to negotiate merchandising agreements for the sequel.
On its part, Marvel says that it is in no way trying to hinder production of a sequel. Spiderman made $800 million worldwide. Marvel has also accused Sony of going back on its promise to use its sister companies, such as Sony Electronics and Sony’s games division, to merchandise the web-slinger. The report states that Marvel’s 4,700 comic characters are licensed to promote everything from snack foods to clothing and entertainment. Its Daredevil, X-Men characters were made into films by 20th Century Fox.
Brands
YES Bank hands the keys to SBI veteran Vinay Tonse as it bets on a new era
Former SBI managing director appointed as YES Bank’s new MD and CEO
MUMBAI: YES Bank is done rebuilding. Now it wants to grow. The private sector lender has appointed Vinay Muralidhar Tonse as managing director and chief executive officer-designate, with RBI approval secured and a start date of April 6, 2026 confirmed. The three-year term signals the bank’s intent to shift gears from crisis recovery to full-throttle expansion.
Tonse, 60, is no stranger to scale. Most recently managing director at State Bank of India, he oversaw a retail book of roughly $800bn in deposits and advances, one of the largest in the country. Before that, he ran SBI Mutual Fund from August 2020 to December 2022, a stint that saw assets under management surge from Rs 4.32 lakh crore to Rs 7.32 lakh crore across market cycles. Add stints in Singapore and four years leading SBI’s overseas operations in Osaka, and the incoming chief arrives with a genuinely global CV.
His academic grounding is equally solid: a commerce degree from St Joseph’s College of Commerce, Bengaluru, and a master’s in commerce from Bangalore University.
The appointment follows an extensive search and evaluation process by the bank’s Nomination and Remuneration Committee. NRC chairperson Nandita Gurjar said the committee unanimously backed Tonse, citing his leadership track record, governance credentials and ability to drive the bank’s next phase of transformation.
Non-executive chairman Rama Subramaniam Gandhi was unequivocal. “I am certain that Vinay Tonse, with his vast experience as a senior banker, will propel YES Bank to its next phase of growth,” Gandhi said, adding that the bank remains focused on strengthening its retail and corporate banking franchises and expanding its branch network.
Rajeev Kannan, non-executive director and senior executive at Sumitomo Mitsui Banking Corporation, the bank’s largest shareholder, said Tonse’s experience across retail, corporate banking, global markets and asset management positioned him well to lead the lender. SMBC said it looks forward to working with Tonse and the board as YES Bank pursues its ambition of becoming a top-tier private sector lender anchored in strong governance and sustainable growth.
Tonse succeeds Prashant Kumar, who took the helm in March 2020 when YES Bank was in freefall following a severe financial crisis, and spent six years painstakingly stabilising the institution, rebuilding governance and restoring operational scale. Gandhi was generous: “The bank remains indebted to Prashant Kumar, who is responsible for much of what a strong financial powerhouse YES Bank is today.”
Tonse, for his part, struck a purposeful note. “Together with the board and my colleagues, I remain deeply committed to creating long-term value for all our stakeholders,” he said, pledging to build on Kumar’s foundation guided by his personal motto: Make A Difference.
Beyond the balance sheet, Tonse played cricket at college and club level and represented Karnataka in archery at the national championships — sports he credits with teaching him teamwork, situational leadership, discipline and focus. In quieter moments, he reaches for retro Kannada music, classic Hindi songs, and the crooning of Engelbert Humperdinck, Mukesh and Kishore Kumar.
YES Bank has its steady-handed rebuilder in Kumar to thank for survival. Now it has a scale-obsessed growth banker at the wheel. The next chapter starts April 6.
