Cyber Media (India has informed that the disclosure made yesterday on December 12, 2024, there was a typo error of date, correct date is May 10, 2023 in the first line of first para of the disclosure. Here is the revised disclosure. This is in furtherance to letter dated May 10, 2023 whereby, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, The Petition No. O.M.P. (EFA) (COMM.) 2/2023 filed before the Hon’ble High Court of Delhi at New Delhi (‘Delhi High Court’) by Ram Capoor, alleging a demand of USD 2,167,229.50 under an ex-parte arbitral foreign award dated October 12, 2022, against CyberMedia India, LLC (dissolved on March 08, 2021); The Company; Kurrent Media LLC (dissolved on March 08, 2021); and Pradeep Gupta, Chairman and Managing Director of the Company. In this context, Ram Capoor (‘RC’), Cyber Media (India) (‘CyberMedia’); and Pradeep Gupta (‘PG’) (collectively referred to as ‘Parties’) have entered into a Settlement Agreement dated December 12, 2024 for an amount of USD 1,000,000 (Settlement Amount).
The above information is a part of company’s filings submitted to BSE.
