Judge Senthilkumar Ramamoorthy granted this injunction after hearing Lyca Productions’ plea. The petitioner requested from Vishal that all monies received or receivable by him in connection with the film “Veeramae Vaagai Soodum” be deposited to the credit of the lawsuit. The lawsuit was filed to recover Rs 21.29 crore with interest which was borrowed by the claimant from the respondent.
“Vishal had to repay a loan of Rs 21.29 crore to Anbu Chezhiyan of Gopuram films. Based on the agreement, we took over the loan. As per the agreement, we have full rights to the films produced by Vishal Film Factory,” the petitioner said.
The petitioner further argued that the respondent, who is the producer of the film Veerame Vaagai Soodum under his Vishal Film Factory banner, released it himself, which is against the agreement and is likely to repay the debt. and the film should not be released on OTT.
However, Vishal’s lawyer argued that his client had only received a Rs 15 crore loan from Anbuchezhiyan.
While recording the submissions, the judge ordered Vishal to open an interest-bearing fixed deposit account in a nationalized bank in the name of the Registrar General of the High Court, Madras, for a sum of Rs 15 crore to the credit of prosecution within three weeks. “This fixed deposit shall be for an initial period of one year, and shall be renewed until the suit is liquidated,” the judge noted. The case was published on March 23.