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The on-going dispute between Bhushan Kumar’s T-Series and Prerna Arora’s Kriaj Entertainment regarding the production and release of several un-released film projects seems to be headed to an amicable resolution. People close to these companies have confirmed that the parties are close to executing a settlement deed and will file the same before the various courts where proceedings are pending between them.
Third party liens created by Kriarj was one of the primary issues that was argued before the Delhi High Court last month in a suit filed by T-Series against Kriaj. Apparently Kriarj did not have any right to mortgage, lien or create any third party rights in any of the films as per the arrangements between Kriarj & TSeries. It is however learnt that parties have now agreed under the settlement kriaj at its own will deal with/repay all such third party claimants from which it had taken funds for the films.
More significantly, both parties seem to have agreed to withdraw their respective suits and actions against each other in light of this settlement.
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We got in touch with Bhushan Kumar and Prerna Arora, both of whom have confirmed the settlement but refused to divulge further details.