Sports channel Ten Sports today submitted before the Supreme Court that it is ready to drop proceedings, including those of contempt, against Prasar Bharti if the latter agrees to pay Rs 50 crore with interest.
Ten Sports' claim is on account of the loss it alleges to have suffered because of sharing feed with Prasar Bharti.
A Bench headed by Chief Justice K G Balakrishnan asked Prasar Bharti to respond to the offer by Tuesday, the next date of hearing.
The petitions pending before the apex court relate to the the government's downlinking guidelines, which made it mandatory for channels to share signals with Doordarshan for telecast on a free-to-air basis.
Senior counsel P H Parekh, on behalf of Ten Sports, submitted that the channel was willing to settle the matter without prejudice to its rights and contentions in the various petitions including transfer and contempt petitions.
"...The petitioner is willing to settle the matter in the interest of justice" if its application for releasing Rs 50 crore along with accrued interest (as on date Rs 72.24 crore), deposited by Prasar Bharti pursuant to the apex court's orders of March 15 and 17, 2004, before the Registrar General is allowed, the two-page document stated.
