Siti Networks Ltd vs Star India Pvt Ltd And Ors

Heard counsel for petitioner and also heard Mr. Kunal Tondon and Mr. Anugrah Robin Frey, counsels for respondent no. 1 & respondent no.2 respectively. Respondents may file short reply before the next date of hearing.

Counsel for respondent no.1 submits that the lawful payable dues after adjustments of incentives to the petitioner comes to Rs. 14,78,06,263/.

As an ad-interim measure, as agreed by the counsel for the petitioner, the petitioner shall pay Rs.14 Crore on account to the respondent no.1 within 3 days from today. If the aforesaid amount is paid by the petitioner within 3 days from today, the respondent no.1 shall not take any coercive action against the petitioner till the next date of hearing. If the petitioner fails to pay the aforesaid amount to the respondent within the time prescribed, the respondent no.1 is free to take action in accordance with law.

The payment of aforesaid amount by the petitioner shall not tantamount to admission of any facts by the petitioner and shall be subject to outcome of the petition.

The petitioner will continue to make the regular payment in accordance with law and the agreement.

List this matter under the same head on 5.7.2023.

In the meanwhile, the petitioner and respondent no.1 will sit together to reconcile the statement of accounts.

Order Dasti.