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2026:BHC-O S:23734 CNR No : HCBM020168842026 AGK IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION IN ITS COMMERCIAL DIVISION COMM ARBITRATION PETITION (L) NO.16884 OF 2026 Phantom Studios India Pvt. Ltd. … Petitioner Vs.

1. Allu Mantena Media Ventures LLP

2. Madhu Mantena

3. Big Bang Media Pvt. Ltd. (UK)

ATUL GANESH 4. Big Bang Mediaverse Pvt. Ltd.

KULKARNI

5. Mad Man Pictures Pvt. Ltd.

Digitally signed by ATUL GANESH KULKARNI Date: 2026.11.03 6. Big Bang Media Pvt. Ltd. (India)

11:32:23 +0530

7. Aravind Babu Allu

8. Prime Focus Technologies Ltd.

9. DNEG India Media Service Ltd.

10. Namit Malhotra

11. Collective Artists Network India Pvt. Ltd. … Respondents Mr. Sharan Jagtiani, Senior Advocate with Ms. Naira Jeejeebhoy, Ms. Samridhi Lodha, Ms. Shweta Jaydev, Mr. Jai Sanyal, and Mr. Keshav Thakkar i/by M/s.

Rashmikant & Partners for the Petitioner.

Mr. Ashish Kamat, Senior Advocate with Mr. Anand Mohan, and Ms. Nirali Atha i/by Dua Associates for Respondent Nos.1, 2, 4, and 5.

Mr. Hiren Kamod with Mr. Ameet Naik, Ms. Madhu Gododia, Mr. Vivek Dwivedi, Mr. Aryan Garg Ms. Sakshi Dube, & Ms. Khushi Agarwal i/by Anand and Naik for Respondent Nos.8 and 9.

Mr. Rashmin Khandekar with Ms. Gauri Joshi i/by Ganesh & Co., for Respondent No.11.

CORAM : AMIT BORKAR, J.

RESERVED ON : OCTOBER 28, 2026. PRONOUNCED ON : NOVEMBER 3, 2026 JUDGMENT:

1. The present Petition is filed under Section 9 of the Arbitration and Conciliation Act, 1996 (the “Arbitration Act”), seeking urgent interim relief in relation to the Assignment Agreement dated 19 April 2024. Under this Agreement, Respondent No. 8 acquired the intellectual property rights in “Project Ramayana” from Respondent No. 1. The Petitioner was made a signatory to the Agreement and was required to follow Clause 5 thereof. This clause restricts the parties from producing, developing, releasing, exploiting, marketing or advertising any work relating to Ramayana or using any of its main characters, including “Hanuman”, until Diwali 2027.

2. The Petitioner submits that, while it has continued to follow the restrictions imposed under the Assignment Agreement, Respondent Nos. 2 and 4, through Respondent No. 11, are producing and marketing a film tentatively titled “Chiranjeevi Hanuman: The Eternal”. The said film is based on the character of Hanuman and is proposed to be released in or around September 2026. Respondent No. 2 is stated to be the single largest shareholder of Respondent No. 11 and to have considerable influence over its functioning. According to the Petitioner, Respondent No. 11, though not a signatory to the Assignment Agreement, is an Affiliate and is under the Control of Respondent Nos. 2 and 4, as these expressions are defined in the Assignment Agreement. The Petitioner contends that Respondent Nos. 2 and 4 cannot avoid their obligations under the Agreement by carrying out the disputed activities through Respondent No. 11. The Petitioner submits that notices were issued to the Respondents calling upon them to stop taking any steps in relation to the Subject Film and to clarify whether any waiver or consent had been sought or obtained under the Assignment Agreement. However, no satisfactory reply was received. According to the Petitioner, unless immediate interim protection is granted, its rights under the Agreement would be seriously affected. This is because the Petitioner is prevented from commercially exploiting a similar opportunity relating to the character of Hanuman, while the Respondents are proceeding with the Subject Film. The Petitioner seeks an order restraining the Respondents from taking any steps towards the creation, production, distribution, exploitation, marketing or advertising of the Subject Film. It seeks to restrain them from granting any waiver of the restrictions under the Assignment Agreement without its consent.

3. The facts which have led to the filing of the present Petition, as stated by the Petitioner, are as fo