In a significant legal development, Culver Max Entertainment Private Limited (formerly Sony Pictures Network India) has taken MX Player to the Delhi High Court for non-payment of dues.
The court, on May 27, directed MX Media to preserve Rs. 31.25 crore from any sales proceeds. This measure aims to ensure the outstanding amount owed to Sony is protected.
Sony filed an urgent petition highlighting that MX Media & Entertainment Pte Ltd. (Singapore) terminated their Distribution Agreement but avoided paying the Rs. 31.25 crore due.
Consequently, the Delhi High Court ordered that this amount must be safeguarded from any asset sales.
MX Media & Entertainment Pte Ltd., based in Singapore, is going through liquidation proceedings in the Singapore High Court.
These proceedings are paused until June 20, 2024, because MXP Media India Ltd. and MX Media Co. Ltd. (British Virgin Islands) requested to cancel the liquidation order.
The media has reached out to Times Internet Ltd, the owner of MX Player, for their response, which is still awaited.
