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HC issues notice to firm for not settling dues to financier

Press Trust of India  |  Chennai 

The Madras High today issued notice to K. Productions which has sold the rights of the multi-lingual film 'Baahubali 2' to Sri Green Productions and allegedly not settled dues of Rs.1.48 crore to a financier.

Justice K. Kalyanasundaram before whom the application filed by S.Karthikeyan, the financier, came up for hearing, also directed counsel for the applicant to serve notice to the two firms returnable by April 25.

He submitted that he helped his friend S N Rajarajan, proprietor of K Productions, secure the rights of the film by providing financial assistance through cheques, totalling to the above mentioned amount.

He further submitted that the cheque issued by K.Productions for the due amount was returned by stating as account closed.

The firm, which had acquired rights of the movie, sold its rights to Sri Green Productions.

Hence to secure his dues, the applicant sought a direction from the to the firm to furnish security of the above dues failing which to attach share of the revenue to be received from Sri Green productions besides foreign and satellite rights of screening the movie.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, April 19 2017. 16:42 IST