NEW DELHI: The Telecom Disputes Settlement and Appellate Tribunal has recalled its order of attachment of properties of Sadhna Media Pvt Ltd after Siti Cable Network Ltd confirmed that the demand draft of Rs 26,87,793 handed over to it last month was in full and final settlement of a case pending since 2013.
Consequently members B B Srivastava and A K Bhargava also disposed of the execution application.
Sadhna Group is a media and broadcast business conglomerate, running multiple television channels and engaged in varied businesses of media, education, advertising, medical, mining and aviation, based in New Delhi.
Siti Networks Limited (Siti Cable Network) is a part of the Essel Group, which is one of India's leading business houses with a diverse portfolio. Being India's one of the most prominent multi-system operators (MSO), Sit is reaching a billion people.
In an order on 17 January 2017, the tribunal also directed that District Judge, Central District, Tis Hazari, Delhi, and District Judge, Gautam Budh Nagar, Noida, UP, may be informed about this order.
The tribunal had passed the attachment order on 8 September 2016 after it was informed that despite an agreement on 22 April 2014, the MSO had failed to make any payment to Siti Cable. The details of the case can be had from the TDSAT website.
Following this, the tribunal had asked Siti Cable on 30 April 2014 to withdraw its petition. However, Siti Cable filed a fresh application last year seeking attachment of the properties of the MSO -- Sadhna Media.
The evolution of the Sadhna Group can be traced to its beginning in 1977 as a small advertising agency. Apart from audio-visual programming and broadcasting, the group has varied business interests in the allied areas of television media - Sadhna/Sadhna News/Ishwar channels, advertising - print/outdoor, etc.
It was in September, 2016, an execution application (E.A.) was filed by the petitioner decree holder, Siti Cable Network, for realisation of the decretal amount of Rs.18,53,650/- in terms of order of the tribunal dated 30.4.2014.
Siti Cable Network and the respondent judgement debtor Sadhna Media Pvt. Ltd. concluded a settlement agreement before the Mediation Centre of the TDSAT on 22.4.2014. The terms of the settlement were as under: That it has been agreed by and between the parties that the respondent shall pay an amount of Rs. 18,53,650/- to the petitioner in full and final settlement of all dues. That the above amount shall be paid by the respondent in six equal monthly installments of Rs.3,08,942/- each commencing from 30 April, 2014, by way of a cheque/demand draft.
