CHENNAI: Financial unrest and outstanding loans has hit Kochadaiiyaan’s producers Mediaone Global Entertainment hard. But that hasn’t stopped the company from planning to release the film internationally - in English by April and in languages like Spanish, Italian and German soon after.
Confirming the same, Murali Manohar, Mediaone’s Director said, “Work is underway to complete and release the international version in English by April. We are certain that it will be well received and also bring in additional revenue for the company.”
Kochadaiiyaan, touted as technologically most advanced cutting-edge film made yet in India, starred Rajinikanth and was directed by his daughter Soundarya Ashwin.
The film didn’t fare as expected and was believed to have cost the production company and distributors dearly,
“There was a lot of pressure to release the film and the delays were costing us dearly. Part of the reason why we needed to take loans was because of that,” he added.
Revenue is the key word here. After an ongoing legal battle over non-payment of dues and cheating with a company called Ad Bureau, Mediaone was dragged into the spotlight last week when Exim Bank made a sale of properties announcement on land owned by Rajinikanth’s wife. She had offered it as a guarantee against a `20 crore loan taken by the production company, a little before Kochadaiiyaan’s work began in 2012.
“We have been in touch with the bank and interest up to May has been paid. In fact, our repayment capacity is well established and it was because of a communication error between two departments in the bank that this notice was issued. I have asked them to issue a public statement to this effect,” said the man who has produced films such as Jeans and Dhaam Dhoom. He assured people that the `20 crore loan with necessary interest would be
settled before the end of the financial year - March 31.