13 Sep 2023 7:15 AM GMT
The Madras High Court on Tuesday vacated an injunction order that the court had earlier issued against the release of the "Mark Antony" movie starring Vishal Krishna, which is slated to release on September 15.Justice PT Asha, who had made the order in a loan default suit concerning the actor, noted that the producer of "Mark Antony" was not a party to the suit and that he had already...
The Madras High Court on Tuesday vacated an injunction order that the court had earlier issued against the release of the "Mark Antony" movie starring Vishal Krishna, which is slated to release on September 15.
Justice PT Asha, who had made the order in a loan default suit concerning the actor, noted that the producer of "Mark Antony" was not a party to the suit and that he had already made payments to the Actor. The court thus deemed it fit to discharge the earlier injunction order.
"Considering the fact that the Producer of the movie "Mark Antony" is not a party to the present lis pending before this Court and they have made the payment to the 1st defendant [Vishal], the order of injunction granted earlier on 08.09.2023 in A.Nos.3205 and 3207 of 2023, stands discharged," the court ordered.
At the same time, the court, not being satisfied with the manner in which Vishal had conducted himself in the suit, directed him to produce bank statements of all the accounts held by him from January 1st, 2021 till date along with the details of all the assets held by him. The court also directed Vishal to give the details of the manner in which he planned to repay Lyca Productions.
"The 1st defendant [Vishal] shall produce the Bank Statement in respect of all the banks in which he holds account either in his name or in the name of any concerns in which he has interest from 01.01.2021 to 13.09.2023. The details of the movable and immovable assets with the documents of title shall be produced by the defendant. The 1st defendant shall also give a road map as to how he proposes to settle the dues to the plaintiff [Lyca Productions]. A schedule of repayment can be made," the court ordered.
The court also noted that Vishal had already received a sum of Rs. 5,40,00,000 from Stone Bench Creations Private Limited to act in an upcoming movie tentatively titled "Vishal 34" and a further sum of Rs. 2,60,00,000 remained payable. The court directed this amount to be deposited to the credit of the suit as and when it is due.
Noting that Vishal had been "modifying his stand" in each counter, the court also warned that it will proceed with perjury against the actor if found that he had misled the court through his affidavits.
"It is made clear that if at any point in time it is brought to the notice of the Court that the 1st defendant has misled the Court through his affidavit, the Court shall initiate proceedings for perjury against the 1st defendant," the court said.
Vishal had taken a loan from GN Anbu Chezhian of Gopuram Films to the tune of Rs 21.29 crore along with interest. When these amounts remained unpaid, Lyca Productions stepped in and paid Anbu Chezhian on the promise that Vishal will repay Lyca the entire amount along with interest at the rate of 30% per annum, calculated on diminishing balance.
When this amount remained unpaid, Lyca approached the High Court which directed him to make a fixed deposit for ₹15 crore to the credit of the civil suit and hand over the original FD receipts to the Registrar of the High Court. This FD was initially for a period of one year and was to be renewed till the disposal of the suit.
Citation: 2023 LiveLaw (Mad) 264
Case Title: Lyca Productions v Vishal Krishna Reddy
Case No: C.S.No.59 of 2021