Culver Max Entertainment Private Limited (formerly known as Sony pictures) has filed a plea against against MX Media & Entertainment Pte Ltd. (Singapore), MXP Media India Ltd. and MX Media Co. Ltd. (BVI) (United Kingdom) at the Delhi High Court over unpaid dues of Rs 31 crore arising out of a 2021 agreement, as per a Moneycontrol report.
The report quotes the statement by Sony’s lawyer, Karanjawala and Co, which states, “Delhi Court on May 27 has passed directions to the effect that if any sale of assets of MX Media & Entertainment Pte Ltd. (Singapore) is undertaken, an amount of Rs. 31.25 Crores payable to Sony is to be preserved from the sale proceeds of its assets. It also directed that on conclusion of the transaction for sale of assets, Sony is to be informed through its counsels.”
Sony and MX entered into a distribution agreement in December 2021 by which Sony had granted certain rights including integration of the Service API and making available the Service Thumbnails on the Designated Digital Platform. The agreement was to operate in two terms till March 2023. However, MX terminated the agreement in March 2022, and by then the company owed Rs 31.25 crore.