Bollywood Hungama has exclusively learnt that Cine1 Studios has moved to Delhi High Court seeking a stay on the OTT release of Ranbir Kapoor-starrer Animal. What we know from sources is In the ongoing legal proceedings involving Murad Khetani and T-Series regarding the alleged concealment of an amendment to the principal agreement, Senior Counsel Mr Amit Sibal, representing T-Series, presented several compelling arguments before the Hon’ble Court.
Firstly, he contended that the current suit is premature, asserting that the 70-day period from the theatrical release on December 1, 2023, has not yet passed, making revenue statement sharing with Cine1 unnecessary at this juncture.
Furthermore, Mr Sibal stated that over a span of four years, Cine1 failed to make timely efforts to seek information about costs, allowing the movie’s release without objection. He argued that Cine1 was well aware that these expenses are being incurred in the normal course, T-Series has never denied access to financial statements and third-party agreements and has been willing to share the same.
An industry source also said, “It is traditional trade practice that T Series is following in the case of Animal. And one also knows first the cost is covered by the P&A and OTT payment comes only after six months. Besides it has been only one and a half months since the release of the film Also T Series is definitely to honour the commitment of sharing profit, so why is Cine1 in a hurry.”
For the unversed, the next hearing will be held on Thursday, January 18.
Also Read: Ranbir Kapoor starrer Animal hit by legal snarl: Co-producer Cine1 Studios sues T-Series; seeks stay on OTT release
Disclaimer : This story is auto-aggregated by a computer program and has not been created or edited by FilmyFriday. Source:: BollywoodHungama
