Actor Radhika Sarathkumar loses bid to save property, told to pay penalty
By Express News Service | Published: 18th July 2017 08:31 AM |
CHENNAI: The Madras High Court has made absolute the interim order restraining actor Radhika Sarathkumar, her legal heirs and all partners of Magic Frames in Teynampet, from in any manner encumbering or alienating her two immovable properties on Paul Appasamy Street in T Nagar. Justice V Parthiban, who made the stay absolute on Monday, also imposed an exemplary cost of Rs 2 lakh on her.
The judge was dismissing applications from Radhika and others challenging the interim order passed on May 25 last.Originally, Radiance Media Private Limited in Nandanam had filed a civil suit to recover Rs 2 crore from Radhika or to provide security for the amount. According to Radiance, which is the plaintiff, Sarath Kumar and others borrowed Rs 1.50 crore after executing an agreement for production of a film in November 2014 with 30 per cent interest. They promised to return the money by March 31, 2015. Yet they did not keep the promise.
However, they approached the plaintiff again with a request to lend more money along with the outstanding loan amount and interest as per the 2014 loan agreement and promised to execute mortgage deed to that effect for both the outstanding loan amount with interest and for the fresh loan amount.
Accordingly, Radhika executed a mortgage deed on January 21, 2016 for `3.40 crore and the plaintiff lent the amount which includes the outstanding loan amount and interest. The break-up was `2.40 crore towards outstanding loan amount plus interest and a fresh loan amount of `1 crore, totalling `3.40 crore. This fresh loan of `1 crore was paid to the defendants represented by Radhika. It was acknowledged in the mortgage deed. But they did not keep that promise also. The cheques issued by them bounced. Hence, the present suit.
A vacation judge on May 25 last granted the interim injunction restraining Radhika and others from selling the properties. Hence, the present applications from Radhika to vacate the stay.
Dismissing them, Justice Parthiban said the interim order passed on May 25 last was to be continued and also made absolute. So, all applications filed by Radhika and others were dismissed as devoid of substance and merit, with exemplary costs of `2 lakh payable to Radiance Media on or before August 15, the judge said.As regards the application for attachment of the properties, the judge directed the Registry to issue notice to Radhika.