Financier wants to put brakes on Vaalu film release

DC | P. ARUL
Published May 8, 2015, 12:26 pm IST
Updated Mar 29, 2019, 6:21 am IST
After initial hiccups, production began in June 2012
'Vaalu' Tamil movie still
 'Vaalu' Tamil movie still

Chennai: A city court has ordered notice on a petition, which sought to restrain the release of upcoming Tamil film Vaalu, featuring Silambarasan and Hansika Motwani.

In the petition, Jayan Elangovan of Vadapalani submitted that he has been engaged in financing producers of films.

 

Noted producer S.S. Chakravarthy, proprietor, NIC Arts, approached him seeking a loan to make Vaalu, (Naughty) directed by Vijay Chander.

After initial hiccups, production began in June 2012. The film features Silambarasan and Hansika Motwani in the lead roles, Santhanam, Ganesh and Brahmanandam in supporting roles.

Elangovan said for the purpose of meeting the production expenses, Chakravarthy obtained Rs 10 lakh as loan and executed a promissory note in April 2014.

He informed him that he was the producer-cum-absolute rights holder of the film. Chakravarthy agreed to repay the amount with interest of 24 per cent per annum before the release of the movie.

 

He came to know that Chakravarthy has been making attempts to release the film without repaying the loan. When he approached Chakravarthy, he assured him that the movie was under production and reached the final stage. Hence, Chakravarthy sought time to settle the dues.

“In a letter dated April 23, 2015, Chakravarthy agreed to return the amount with interest. Again, the producer has been tying to release the movie without repaying the amount. If it was released, I will not be able to realise the amount and cause irreparable damage,” he added.

 

Elangovan sought a direction to restrain Chakravarthy or any of his agents or men from releasing the film. When the matter came up before the vacation court, the judge ordered notice and adjourned the matter to June 6.

...
Location: Tamil Nadu




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