The Madras High Court has directed actor Vishal to pay a sum of ?21.29 crore to Lyca Productions with an additional interest of 30%. The issue dates back to a film financing arrangement where Vishal borrowed ?21.29 crore from Anbuchezhiyan’s Gopuram Films through his production house, Vishal Film Factory. Later, Lyca Productions took over the loan amount with an agreement that all rights to Vishal’s films would belong to Lyca until the loan was fully repaid.
However, Lyca Productions alleged that Vishal breached the agreement by releasing films without repaying the debt. As a result, they filed a case in the Madras High Court seeking repayment. Initially, the court had directed Vishal to deposit ?15 crore. This directive was upheld by a division bench.
Justice P.T. Asha, who presided over the case, had reserved the verdict earlier. On June 5, she delivered the final judgment, confirming that Vishal must repay the full ?21.29 crore to Lyca Productions along with 30% interest. Additionally, Judgement ordered Vishal to pay legal costs incurred during the case.
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