These are indeed desperately strange times in the Telugu film industry.

A heroine attempted suicide a few weeks ago, before the release of her new film, as because the film's hero who was also reportedly her real life hero had threatened to walk out on her.

Now, a high-profile producer who is also a sitting MLA has attempted the extreme step as he is in huge, huge financial mess after the release of his latest movie.

Chengala Venkat Rao, the producer of Narasimhudu, attempted suicide at the Hussain Sagar Lake yesterday. But he was rescued and is now undergoing treatment in Hyderabad and his condition said to be stable though doctors want to wait for some more time before declaring him to be out of danger.

Venkat Rao's case is quite symptomatic of what is wrong in the industry especially its nebulous financial dealings.

He is said to have lost around Rs. twenty crore so far in the film (unless there is a sympathy wave now, Narasimhudu is a humungous disaster).

Some of the financiers and distributors, who have also lost money, have already lodged a case of cheating against the beleaguered producer.

The 36-year-old Rao was obviously pained at the accusations. He says that the charges of cheating drove him to a state of depression and that in turn drove him to bid suicide. Chengala Venkat Rao also felt humiliated that he couldn't release the film in his home town of Vizag (He is the MLA of Payak Rao Peta).

But amidst all the mood of gloom and doom, he sees some hope still. "Narasimhudu isn't a flop. I am confident it will run for over 100 days. People initially said my earlier film Samarasimha Reddy too was a flop, but it was a huge hit."

The producer has also a word of praise for the film's hero NTR as he had forsaken his own remuneration to save the film.

After the cases being slapped against him, Rao is also planning to quit his Legislative post.

Life is cruel, some times. But Rao is alive to tell the tale. So it is not cruel always.