TDSAT has directed IndusInd Media & Communications Ltd to pay at least the minimum Rs.26,55,14,607 demanded by Taj TV subject to verification of payments made in March. Consequently, Indusind Counsel Vandana D Jaisingh handed over to Taj TV counsel Tejveer Singh Bhatia, four cheques amounting to Rs.10 crores.
Chairman Justice Aftab Alam and member B.B. Srivastava directed Indusind to pay the balance amount of Rs.16,55,14,607 subject to verification of the amount paid by it in the month of March 2016.
The cheques would be dated 31st March but Bhatia said that they would be presented for encashment before the bank only in the first week of May. Apart from this payment, Indusind was liable to make payment for the month of April subject to any special discount, if any, in terms of the agreement.
At the outset, the Tribunal noted that during the pendency of the petition, the two sides had executed a memo of understanding (MOU) on 30th March covering the period 01st April 2015 to 31st March 2016, that is to say, the period when there was no agreement between the parties and Indusind continued to receive signals from Taj TV. Indusind also claimed certain deductions in terms of the special discount given by the respondent after the execution of the agreement. Indusind further claimed certain deductions on account of TDS.