Cyber Media (India) Limited — Updates, 12-12-2024: Press Release

Cyber Media (India) Ltd (CMIL) has settled its major legal disputes, indicating a strategic shift towards monetizing dormant assets to fuel new growth initiatives. Notably, the company has resolved a legal matter involving a settlement of USD 1 million, significantly lower than the initial claim of USD 2.2 million from a former employee of its dissolved subsidiary. CMIL plans to raise the settlement amount through the monetization of real estate and investments, along with fresh funds from promoters, ensuring its operational cash flow remains unaffected.

Additionally, CMIL successfully contested demands totaling Rs. 9 Cr from the GST department, which were revised to a nominal amount and resolved. Furthering its asset monetization efforts, CMIL has leased floor space to Canara Bank, projected to yield Rs. 5 Cr over a 15-year term. This proactive approach reflects a positive outlook for CMIL as it emphasizes growth while maintaining fiscal discipline. Investors should observe this strategic pivot closely for potential growth opportunities.