Home / Arts and Entertainment / Madras High Court Dismisses Vishal's Plea in 21 Crore Loan Dispute
Madras High Court Dismisses Vishal's Plea in 21 Crore Loan Dispute
18 Feb
Summary
- Madras High Court rejected actor Vishal's request for more time to deposit 10 crore.
- The court previously ordered Vishal to deposit funds for a 21.29 crore loan.
- Lyca Productions can now seek execution of the single judge's payment order.
The Madras High Court on Tuesday rejected an application by actor Vishal requesting additional time to deposit 10 crore. This amount was ordered by the court as part of Vishal's appeal challenging a previous ruling.
The single judge's order, issued on June 5, directed Vishal to pay 21.29 crore with 30% interest to Lyca Productions concerning a loan dating back to 2019. Lyca had settled this loan on Vishal's behalf with the original lender, Anbu Chezhian of Gopuram Films.
Lyca Productions filed the suit when Vishal failed to repay the loan and allegedly attempted to alienate film rights, violating the lien created in Lyca's favor. The division bench refused to grant further time for the deposit, allowing Lyca to initiate execution proceedings.
