A bench of Chief Justice of India (CJI) DY Chandrachud and Justices PS Narasimha and JB Pardiwala passed the order on a plea by Saregama.
Indian music company Saregama and short-video application Triller had in March 2021 signed a global licensing deal that would enable the latter’s users to access the catalogue of the former while making videos.
Triller was to pay a flat fee of 400,000$ by April for the first 12 months of the deal, that would begin from October 2021. Later, 500,000$ was to be paid for the following year. Further, 350,000$ was to be a one-time past-use fee to be paid within 15 days.
Despite multiple reminders, oral communication and statutory notices, Triller failed to pay the money as per contractual obligations.
It also failed to appoint an arbitrator within 30 days after Saregama had initiated the same, leading to the present plea before the top court.
The top court had in October 2022 issued notice in the arbitration petition by Saregama.
Source: Barandbench
