MX Player has been taken to the Delhi High Court by Culver Max Entertainment Pvt Limited over non-payment of dues for services provided. On May 27, the Delhi High Court directed MX Media to preserve INR 31.25 crore from its sales proceeds.
SONY takes MX Player to court for non-payment of dues; Delhi HC orders MX Player to set aside Rs 31 crore businesstoday.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstoday.in Daily Mail and Mail on Sunday newspapers.
According to the plea reviewed by Moneycontrol, 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
Cyber Media India Ltd has now paid the entire OTS amount of Rs. 14.25 crore, and accordingly, the loan account with PARAS has been closed, and the mortgaged / pledged / hypothecated immovable / movable properties of the Company have been released.