CHENNAI: Responding to the cheating complaint registered by a company that loaned them money, Kochadaiiyaan’s producers responded by saying that these were ‘pressure tactics’ to extract money from them.
In a strongly worded statement, Mediaone Global Entertainment’s Director Dr J Murali Manohar said Ad Bureau — the company that levelled the charges — had agreed to loan them `33 crore and then failed to deliver. “That was the loan that Latha Rajinikanth signed a guarantee note for. They gave us a loan of `10 crore and she was not involved in that transaction. This is a malicious attempt to involve her in a transaction involving two private limited companies and is for the purpose of extraction,” he said. He went on to add that their delay in granting them the original loan was the reason for Kochadaiiyaan’s release being pushed from May 9.
In a counter charge, he said they paid back `4 crore and followed up with another `4 crore in a DD issued on November 11. “We promised to repay the remainder with interest, but they were demanding unnatural interest rate,” he said.