The Delhi High Court was informed on Monday that Cine1 Private Limited and Super Cassettes Industries Private Limited (T-Series) have settled their disputes regarding alleged violation of contractual obligations related to 'Animal' movie [Cine1 Studios Private Limited v Super Cassettes Industries Pvt Ltd & Ors].The counsel appearing for Cine1 and T-Series told the Court today that settlement agreement has been signed and the same will be brought on record as well.The settlement clears the way for the release of the Ranbir Kapoor starrer movie on Over-The-Top platforms.Justice Sanjeev Narula noted the submissions and asked both the sides to bring the agreement on record.The matter will be considered on January 24 for disposal.As reported earlier, Cine1 Studios Private Limited filed the suit against T-Series arguing that the two production houses entered into an agreement to produce the film. Under this agreement, Cine1 claimed that it had a 35 percent profit share and was entitled to 35 percent intellectual property rights in the movie Animal.The suit alleged that without Cine1’s approval, T-Series incurred expenses for making/ promoting/ releasing the film and received revenues at the box office sales without sharing any details of the same and did not pay any money to the plaintiff (Cine1) despite the profit-share agreement.
During the hearing on January 15, T-Series contested the claims arguing that Cine1 did not invest even a rupee in the film and that it has surrendered all its intellectual property and derivative rights in the film for ₹2.6 crores.T-Series claimed that an amendment was made to the contract on August 2, 2022, by which Cine1 agreed to give up its rights for ₹2.6 crores and this fact has been concealed in the suit.
In its suit, Cine1 sought a stay on the release of the movie on OTT platforms till T-Series complies with the terms of the agreement with Cine1.This included giving profit share, due credits, a certified final cost of production of the film, box office collections, agreements executed with Culver Max and Netflix as well as the agreement with Vanga.Senior Advocate Sandeep Sethi argued the case for Cine1. He was assisted by advocates Jaya Goyal, Gitika Agarwal, Parminder Singh, Arjun Agarwal, Kaushal Jeet Kait, Tejaswi Chaudary, Abhay Agnihotri, Daksh Gupta, Jatin Yadav, Gaurav Dua, Shreya Sethi and Sumer Seth.Senior Advocate Amit Sibal along with advocates Harsh Kaushik, Sachin Akhoury and Arpit Srivastava appeared for T-Series.
TAGS: Cine1 Studios Private Limited T-Series legal dispute Animal film profit share intellectual property rights
