A week before the scheduled release of Kamal Haasan-starrer Uttama Villain on May 1, the producers of the film have given an undertaking in the Madras High Court to settle a loan of Rs. two crore with interest before April 28, which they obtained from a private firm.
M/s. Thangam Cinemas of Valasaravakkam in a suit submitted that as per an agreement it made with M/s. Thirrupathi Brothers Film Media (P) Limited, the producers of the film obtained a loan of Rs. two crore and was to repay the amount on certain conditions.
As per one of the provisions of the agreed terms, the producers had to give the copyright and distribution of the film to M/s. Thangam Cinemas if the loan was not repaid before the release of the film. The cheques issued by the producers have bounced, the M/s Thangam Cinemas submitted in his suit.
ADVERTISEMENT
The company further sought a direction to producers of the film to pay a sum of Rs.2.22 crore with interest.
When the case came up for hearing before Justice K. Ravichandrabaabu, counsel appearing for M/s. Thirrupathi Brothers Film Media (P) Limited and its managing director N. Lingusamy took an undertaking that the loan would be settled before April 28. On recording his statement, the judge posted the case for April 28 for report of settlement.