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Film Release Halted Over Rs 21 Crore Debt
11 Dec
Summary
- Vaa Vaathiyaar's release was postponed due to a Madras High Court stay order.
- The court cited an unpaid debt of Rs 21.78 crore including interest.
- The producer's proposal to pay a partial amount was rejected by the court.
The scheduled December 12 release of Karthi's film Vaa Vaathiyaar has been indefinitely postponed following a Madras High Court order. The court's decision stems from a substantial financial dispute concerning producer KE Gnanavel Raja and his Studio Green.
The postponement is a result of an unresolved debt of Rs 10.35 crore, which has escalated to Rs 21.78 crore with accumulated interest. This debt was incurred by Studio Green from businessman Arjunlal Sundardas, who was declared insolvent in 2014. The official assignee managing Sundardas's assets initiated legal proceedings to recover the outstanding amount.
Despite the producer's legal team offering to pay Rs 3.75 crore immediately and provide property documents for the balance, the court rejected the proposal. Judges noted that sufficient time and multiple opportunities had already been granted, and the producer had not shown serious intent to settle the dues, leading to the current injunction against any release of the film.
