Can't see Nayan, Simbu starrer Idhu Namma Alu, thanks to finance issue

A day ahead of the slated release of Idhu Namma Alu starring Simbu and Nayanthara, the Madras High Court stayed it.

Published: 27th May 2016 03:46 AM  |   Last Updated: 27th May 2016 03:47 AM   |  A+A-

CHENNAI: A day ahead of the slated release of Tamil feature film Idhu Namma Alu starring Simbu and Nayanthara, the Madras High Court stayed it on Thursday.

The vacation judge MV Muralidharan granted the injunction while passing interim orders on an application based on a civil suit from the film financier Sanjay Kumar Lalwani of Purasawalkam.

Unless Chimbu Cine Arts, T Nagar, the producer of the film, settled the entire sum due to the financier, it had no right to release the film. The financier has made out a prima facie case against the firm.

Cant see.jpgHence the interim injunction restraining Chimbu Cine Arts and others from releasing the film, directed by Pandiaraj and processed by Prasad Color Lab, in the entire North Arcot and South Arcot areas and in the territories assigned to the financier till the disposal of the suit, the judge said.

According to the plaintiff, while producing the film, Chimbu Arts approached him and borrowed `1.09 crore through an agreement dated August 14, 2015 and promised to repay the entire sum together with interest at 36% a year before releasing the movie.

Chimbu Arts had also agreed to create a first and paramount charge over the areas of North Arcot and South Arcot exclusively in the financier’s favour and based on the promises, the financier had released the sum in cash and also executed two promissory notes for the transaction.

However, Chimbu Arts tried to release the film without settling the amount due and without his knowledge on May 27 through Thenandal Films, Saligramam. The act was in total violation of the August 2015 agreement, financier contended.

Despite collecting huge advance sums from distributors, the producers miserably failed and neglected to repay the loan amount, Lalwani added in his petition.

Chimbu Arts approached me and borrowed `1.09 crore through an agreement dated August 14, 2015 and promised to repay the entire sum together with interest at 36% a year before releasing the movie

Sanjay Kumar Lalwani, financier

Stay up to date on all the latest Chennai news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp