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Nation Current Affairs 27 May 2017 Madras HC restrains ...

Madras HC restrains Radikaa Sarathkumar from alienating her two properties

DECCAN CHRONICLE.
Published May 27, 2017, 7:09 am IST
Updated May 27, 2017, 7:09 am IST
Applicant’s counsel S. Ashok Kumar submitted that Sarath Kumar and Radikaa Sarath Kumar borrowed Rs 1.50 crore from Radiance Media.
Actress Radikaa Sarathkumar
 Actress Radikaa Sarathkumar

Chennai: The Madras high court has restrained actor Radikaa Sarathkumar and her legal heirs and legal representatives from in any manner encumbering or creating any third party rights with regard to her two immovable properties situated on Paul Appasamy Street in T Nagar in the city.

Justice R. Mahadevan granted the interim injunction till June 2 on an application arising out of a suit filed by M/s Radiance Media Pvt. Ltd, engaged in the business of production and distribution of films and lending loan for film production activities.

 

The judge also ordered notice to actor Sarath Kumar and Radikaa Sarath Kumar and their partnership firm M/s Magic Frames on the main suit to pay Rs 2 crore borrowed by them from Radiance Media or to furnish security for the said amount.

Applicant’s counsel S. Ashok Kumar submitted that Sarath Kumar and Radikaa Sarath Kumar borrowed Rs 1.50 crore from Radiance Media for the production of a film titled “Production No.4” in November 2014 after executing an agreement to repay the amount by March 31, 2015. However, they failed to fulfil their promise. Again, they approached the Radiance Media to lend more money along with the outstanding loan amount and interest as per the loan agreement and executed the mortgage deed in respect of two flats in T Nagar and a vacant land in Tenkasi for Rs 3.39 crore. The company also lent a fresh loan of Rs 1 crore. Thereafter, since the loan amount lent exceeded the value of mortgaged properties, they consented to furnish all the rights, including the theatrical exhibition of their feature film “Pambu Sattai”. Moreover, when the two cheques issued by them for Rs 2 crore were presented for collection, the bank returned the same with an endorsement “payment stopped by drawer”. Hence, the company has filed the present suit, Ashok Kumar added.

 

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