HC issues notice to firm for not settling dues to financier

The Madras High Court 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 bank stating as account closed.
The firm, which had acquired rights of the movie, sold its Tamil Nadu rights to Sri Green Productions.
Hence to secure his dues, the applicant sought a direction from the court 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.