Bhushan Kumar’s T-Series and Murad Khetani’s Cine1 Studios settle Animal profit sharing dispute out of court: Reports
Amid the feud between Bhushan Kumar’s T-Series and Murad Khetani’s Cine1 Studios related to profit sharing of Ranbir Kapoor starrer Animal, now, it is reported that the studios have settled out of court. For unversed, Cine1 was upset with T-Series for not following their agreement regarding the movie Animal. T-Series argued that Cine1 had already given up their rights in a 2022 agreement. The case was taken to court which may have affected the film's release on a digital platform, Netflix India.
As reported by Bar N Bench on Monday, January 22, the lawyers representing both studios informed the Delhi High Court that “they have reached an agreement to resolve their issues. This means a settlement has been officially signed and will be presented to the court for approval.” With the settlement in place, the hurdles for Animal arriving on OTT have been removed.
On Monday, Justice Sanjeev Narula acknowledged the agreement between the studios and instructed both parties “to officially document the agreement. The court will review and address the matter on January 24, with the expectation of bringing it to a conclusion at that time.”
As per an earlier report in ANI, Cine1 accused T-Series of breaking their contract, claiming that the latter did not consult them for promotions like teasers, credits, marketing, and disclosing final costs. The studio also alleged that T-Series didn't share details about agreements with Netflix India and Sony Pictures Networks India.
T-Series, represented by Senior Advocate Amit Sibal, responded, claiming that in an August 2022 amendment agreement, Cine1 gave up all rights to the movie for Rs 2.6 crores.
The court, led by Justice Sanjeev Narula, accepted the case and summoned both parties. They were asked to submit written statements and affidavits, after which, the case was set to proceed with evidence marking on March 15 with additional arguments scheduled for January 22. ALSO READ: Delhi HC summons T-Series and Netflix India in Animal OTT release dispute: Report
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