Chennai: The Madras high court stayed the release of the multi-crore Tamil film ‘I’, starring Vikram and Amy Jackson and directed by Shankar, which was scheduled to be released on Pongal, January 15.
Passing interim orders on an application arising out of a suit filed by Picturehouse Media Limited in Chetput, Justice R. Mahadevan granted the interim injunction on Thursday, restraining Aascar Films Private Limited, its directors V. Ravichandran and D. Ramesh Babu, besides Reliance Mediaworks Limited from releasing the movie till January 30. “The producers, distributors, film laboratories and digital projection services are hereby restrained by an order of interim injunction till January 30, 2014, from releasing the film in theatres all over the country, and in any country outside India. In the meanwhile, the applicant is directed to initiate arbitration proceedings,” the judge added and ordered notice to the producers to file their response by then.
According to applicant, Aascar Films borrowed Rs 15 crore for the production of the film in February 2013.
As per the agreement terms, the company was to return the amount with interest before the release of the film.
However, it came to know through newspapers that the production company was proposing to release the film on January 15 without settling the amount of Rs 17.5 crore due to the applicant.
