Essel-backed Siti Networks was granted interim relief by the Mumbai bench of the National Company Law Tribunal (NCLT), restraining Star India from disconnecting signals to the TV distribution platform until further orders, states an ET report.
Star had issued a disconnection notice to Siti on January 25 for non-payment of outstanding subscription dues, requiring the platform to make the payment within three weeks or face disconnection, as per reports.
The bench has also directed both parties to resolve the disputed issues of incentives under the contract agreement waiting two weeks. In its January 25, order the NCLT bench noted that Siti is making monthly payments to Star and it is not a case where no payments are being made. Siti reported a monthly net payment of Rs 36.47 crore to Star between August and December 2023 while deducting Rs9.51 crore from the subscription payment as an incentive.
Siti Networks is a multi-system operator (MSO) promoted by the Essel Group and offers a variety of channels, including HD services, digital cable TV, and broadband services.
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