Rajinikanth's wife Latha, a guarantor for Mediaone Global Entertainment Limited, had reportedly taken Rs 10 crore loan from AD-Bureau Advertising Pvt Ltd for finishing the post-production work of her younger daughter Soundarya-directed movie "Kochadaiiyaan" in 2014. It had Rajinikanth and Deepika Padukone in lead roles.
Actor turned politician Rajinikanth’s daughter Soundarya has issued a clarification on behalf of her mother Latha after reports appeared in the media that she was asked by the Supreme Court to “face trial” or pay Rs 6.2 crore due to a Bengaluru-based advertising agency.
Rajinikanth's wife Latha, who stood as a guarantor for Mediaone Global Entertainment Limited, had reportedly taken Rs 10 crore loan from AD-Bureau Advertising Pvt Ltd for finishing the post-production work of her younger daughter Soundarya-directed movie "Kochadaiiyaan" in 2014. It had Rajinikanth and Deepika Padukone in lead roles.
Mediaone had paid back part of the loan and still owes Rs 6.2 crore. According to reports in the media on July 3, the Supreme Court had pulled up Latha and asked her to pay the due amount or “face trial”.
However, Soundarya said the apex court “vindicates” Latha Rajinikanth and accused online media and newspapers of “incomplete” reporting of the court proceedings.
Here is her full statement on behalf of Latha.
In November 2014, AD-Bureau Advertising Pvt Ltd had filed a complaint against Latha and Kochadaiiyaan producer J Murali Manohar. The company accused them of cheating, denying them distribution rights for the movie in Tamil Nadu. Mediaone was to refund Rs. 10 crore along with Rs. 1.2 crore which was promised as "guaranteed profit".
On February 20, the court, in its order had stated, "Special leave petition is kept pending for three months. Within the aforesaid period of three months, if the company - Mediaone Global Entertainment Ltd, does not pay the balance dues, the respondent-accused (Latha Rajinikanth) has undertaken before the court to pay the amount due."
Latha had given an undertaking that if the company fails to pay the money in three months, she would pay the amount. But she did not honour the undertaking. Later, the ad agency approached the Supreme Court.
The matter was posted for for further hearing.
Kochadaiiyaan is India's first motion capture photo-realistic 3D animated film. The movie made Rs 30 crore in India and Rs 12 crore overseas. The movie was made at a whopping cost of Rs 125 crore.