Prime Focus has informed that the Company and Namit Malhotra (one of the promoters of the Company) has, on July 25, 2023, filed a suit before the Honorable High Court of Bombay, against Reliance Alpha Services and others, with respect to: the notices received from Reliance Alpha Services alleging breach of loan agreement of February 25, 2019 by the Company and demanding a sum of INR 353.79 Crores, and to invoke the personal guarantee issued by Namit Malhotra in the event of non-payment by the Company and the non-completion and breach of the business transfer agreement dated November 19, 2014 by Reliance Mediaworks and Reliance Land, pursuant to which, the aforesaid loan agreement of February 25, 2019 was executed. The Company will respond to, and handle these matters, in the ordinary course of business.
The above information is a part of company’s filings submitted to BSE.