The Talwars in their petition have claimed that the movie 'Rahasya' is based on "distorted facts surrounding the gruesome death" of their daughter.
A division bench of Justices V M Kanade and G S Kulkarni today posted the petition for hearing on March 4.
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According to the Talwars, the movie would ridicule and create an atmosphere against them in public mind.
"It would paint the petitioners in the wrong light and would be defamatory," the petition said.
On the intervening night of May 15 and 16, 2008, Aarushi and their house help Hemraj were found murdered at the Talwar residence in Noida near Delhi.
The Talwars were convicted by a sessions court in Ghaziabad in November last and sentenced to life imprisonment. Their appeal against their conviction is pending before the Allahabad High Court.
Soon after their conviction, the Talwars came across interviews by Gupta and some actors saying a movie is being made based on the Aarushi murder case.
"The petitioners' lawyer made a public statement in December 2013 that no movie or book shall be made on the case. However, in January the couple (Talwars) came to know that the CBFC has granted certificate to the movie," the petition said.
On February 17, the Talwars sent a legal notice to Gupta and UVI Films Production Ltd seeking private screening of the movie but did not get any response following which they petitioned the High Court.
"It is apparent that the movie is based on a distortion of facts surrounding the gruesome murder of their daughter Aarushi and portrays the petitioners and their daughter in a bad light and castes slur on their reputation," the petition said.
Seeking a stay on the release and telecast of the film and for the certification to be quashed, the Talwars have said that the whole case is sub-judice as their appeal is pending with the High Court.
According to the petition, the Talwars have not been approached by the director or the producer of the movie to seek prior consent.
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