Legal obstacle for the release of Chiyaan Vikram's 'Thangalaan' and Suriya's 'Kanguva' - Deets
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KE Gnanavel Raja of Studio Green has produced two of the most eagerly awaited films of the year, "Thangalaan" starring Chiyaan Vikram and "Kanguva" featuring Suriya. While "Thangalaan"* is scheduled for release on August 15 (this Thursday), "Kanguva" is set to make its grand debut on October 10.
However, in a recent legal development, the Chennai High Court ruled on Monday that these films cannot be released theatrically unless Studio Green deposits â¹1 crore before each film's respective release dates. The court's order came in response to an execution petition filed by the High Courtâs Official Assignee, who has been tasked with recovering debts owed by the now-deceased insolvent businessman, Arjunlal Sunderdas.
According to the court's judgement, Studio Green must deposit â¹1 crore with the Official Assignee by Wednesday, August 14, and report compliance on the same day for "Thangalaan" to proceed with its planned release on Thursday, August 15. The judges also stipulated that an additional â¹1 crore must be deposited before the release of "Kanguva".
Reports suggest that Studio Green's shareholders, Gnanavel Raja and VK Easwaran, had received â¹12.85 crores from Arjunlal Sunderdas in 2011 and 2012 to co-produce a film. However, when the businessman withdrew from the deal, the production house only repaid â¹2.5 crores, leaving a debt of â¹10.35 crores. The situation now leaves us waiting to see if "Thangalaan" will be able to secure a smooth release.
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