New Delhi, Jan 22 (SocialNews.XYZ) The Delhi High Court was informed on Monday that Cine1 Private Limited and Super Cassettes Industries Private Limited (T-Series) have amicably resolved their disputes regarding the alleged violation of contractual obligations related to the recent film 'Animal'.
The suit was filed by Cine1 Studios Private Ltd seeking a stay on the release of the movie, starring Ranbir Kapoor, on OTT platforms.
The studio, a key producer of the movie, alleged that Super Cassettes Industries Private Ltd (T-Series) breached their agreement, denying Cine1 its rightful profit share and intellectual property rights.
The legal counsel for Cine1 and T-Series told the court on Monday that a settlement agreement has been reached, paving the way for the movie's release on OTT platforms.
Justice Sanjeev Narula noted the submissions and directed both parties to officially bring the settlement agreement on record. The court will further consider the matter on January 24 for disposal.
The high court on January 18 issued summons in response to a suit.
Justice Narula, upon admitting the suit, had issued summons to the defendants and granted them time to submit a written statement.
The court had directed the defendants to file an affidavit of admission/denial of the plaintiff's documents along with the written statement, saying that without this affidavit, the written statement would not be accepted.
The plaintiff was given the liberty to file replications within 15 days of receiving the written statement.
The court had specified that along with any replications, the plaintiff must file an affidavit of admission/denial of the defendants' documents, without which the replications would not be considered.
Senior advocate Sandeep Sethi, representing Cine1, claimed that T-Series failed to share financial details and acted without Cine1's approval in incurring expenses and promoting/releasing the film.
"I have a long relationship with them but they have no respect for the agreement. I had the regard for the relationship and the sanctity of the contract, therefore, I did not rush to court," he had argued earlier.
T-Series, represented by senior advocate Amit Sibal, had argued that Cine1 had relinquished intellectual property rights through an August 2, 2022 amendment, receiving Rs 2.6 crore in return.
"This amendment has been concealed. They got Rs 2.6 crore. They have not put a pie in the movie and yet got Rs 2.6 crore," he had contended.
Cine1 stressed on T-Series' non-compliance with credit and publicity agreements, seeking a stay on 'Animal' being released on OTT until the terms are met.
Source: IANS
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