Rs 500 crore saved for now as court acquits Salman Khan

Maharashtra govt set to appeal against verdict in hit-and-run case

When the verdict came, Salman Khan, who made his appearance in court around 1.30 pm, broke down. The sense of relief after living for 13 years under the shadow of going to jail was evident after the Bombay High Court acquitted him of all the charges in a 2002 hit-and-run case on Thursday.

His producers — both film as well as television — and quite a few brand managers must have felt relieved, too.  After all, nearly Rs 500 crore is riding on Khan, thanks to his multiple film, television and brand endorsements.

The court overturned the trial court’s verdict that held him guilty of driving his Toyota Land Cruiser over people sleeping on a Bandra footpath on September 28, 2002. In his judgement, justice A R Joshi said the actor could not be convicted because the prosecution had failed to prove the charges “on all counts”.

The prosecution, which was the state of Maharashtra, is set to appeal against the verdict in the Supreme Court, implying all is not well for the actor yet. Legal experts say, however,  with the judge having punctured holes in the prosecution’s case, their stand will get weaker before the apex court.

Khan is currently completing the shooting for Yash Raj Films’

Sultan and is also appearing three times a week in Big Boss 9. He also endorses seven to eight brands, including Thums Up, Revital, Wheel, Astral Pipes and P N Gadgil Jewellers, among others.

The endorsements alone fetch him around Rs 40 crore, as he charges nothing less than Rs 4-5 crore per brand.

Apart from Sultan, Khan has committed to working in brother-in-law Atul Agnihotri’s film. He will also work in a sequel to Kick and has a few more offers in hand. 2015 was a good year for the actor, who had two back-to-back hits in Bajrangi Bhaijaan and Prem Ratan Dhan Payo. Both have achieved a business of Rs 500 crore so far, say experts, with Prem Ratan touching the Rs 100-crore-mark within the first few days of release.

“It was becoming obvious what the verdict would be, given the rather lengthy dictation, which stretched for three days. Most advertisers, brands and producers heaved a sigh of relief as the judge set aside key witness Ravindra Patil’s statement on Wednesday. It seemed a foregone conclusion that he would be set free,” Harish Bijoor brand expert and chief executive, Harish Bijoor Consults, said.

Justice Joshi had noted when dictating the order on Wednesday that Patil was not a “wholly reliable witness” due to changes he made in his statements during the course of the trial. Patil, who died in 2007, was the lone witness to testify that Khan was drunk and was at the wheel.

BRAND SALMAN

• Amount riding on the man: Rs 500 crore
   
• Money coming from: Films/TV: Sultan, sequel to Kick, Bigg Boss Rs 450-460 crore
   
• Brand endorsements: Rs 40 crore
   
• Brands endorsed: Thums Up, Revital, Wheel, Astral Pipes, PN Gadgil Jewellers

Source: Industry