Thangalaan- Kanguva legal dispute: Madras High Court orders Studio Green to pay Rs 1 crore per film
The court has directed that Rs 1 crore be deposited by August 14 for Thangalaan's release on August 15. Before Kanguva can be released, an extra Rs 1 crore must be deposited.
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FollowThe Madras High Court has questioned the release of two major Tamil films, Thangalaan, starring 'Chiyaan' Vikram, and Kanguva, starring Suriya. Justices G. Jayachandran and C.V. Karthikeyan ordered the Studio Green production business which is led by K.E. Gnanavelraja, to deposit Rs 1 crore each for film with the official assignee by Wednesday, August 14, 2024.
The court has directed that Rs 1 crore be deposited by August 14 for Thangalaan's release on August 15. Before Kanguva can be released, an extra Rs 1 crore must be deposited. This comes after a plea by the high court's official assignee, who is attempting to collect debts from the late Arjunlal Sunderdas, an insolvent businessman. Sunderdas had invested Rs 40 crore toward a film with Studio Green but only paid Rs 12.85 crore before withdrawing.
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The production house stated that it was unable to reimburse the full money because it had been spent on pre-production. Sunderdas received only Rs 2.5 crore, leaving him with an outstanding balance of Rs 10.35 crore. The official assignee requested that the court order Studio Green to deposit Rs 10.35 crore plus 18% interest to compensate Sunderdas' creditors. Studio Green claimed they had resolved the debt by providing Sunderdas the rights to remake three Tamil films, and advised he sell these rights to recoup the money.
The bench stated while issuing the decision that due to lack of evidence to support the claim the remake rights for the three films would be exactly equal to Rs 10.35 crore. The order also claimed that there is no oral evidence of that magnitude, let alone documentary confirmation. The documents created are photocopies. The explanation that the originals were lost in floods did not withstand cross-examination," the bench stated while issuing the decision.
The agreement's date was also not revealed. The value and goodwill of the three films have also not been determined," the bench observed. Thangalaan is planned to be released on August 15, while Kanguva will enter theaters on October 10.
