Time granted to Soundarya Rajnikant to give bank guarantees
Chennai: The Madras High Court on Monday granted
time till December 21 to Soundarya Rajnikant, Managing
Director of Ocher Studios and daughter of superstar Rajnikant,
to furnish bank guarantees of Rs 1.10 crore and Rs 50 lakh
after which the Tamil film `Goa` produced by it could be
Justice G Rajasuria passed the order after recording a
submission by Ocher Studios Private Ltd counsel to furnish a
bank guarantee for the money as security for pro-notes amounts
by December 21 on a civil suit by NAPC Properties Private Ltd.
NAPC had sought a direction to restrain the producers
from releasing the movie till Rs 1.36 crore and Rs 73.14 lakh
(both inclusive of interest) provided to the studios were
The Judge made it clear that if the security was not
furnished, the December 1 interim order restraining the
studios from releasing the movie would continue.
In a counter affidavit, chief marketing officer of the
Studios G Kartik claimed the MD Of NAPC Properties Varun
Manian, well acquainted with Rajnikant`s family, was keen on
investing in the studios and had persuaded the company to
accept investments of Rs 1.10 crore and another Rs 50 lakh.
Denying that the money had not been furnished for
production of `GOA", the affidavit said that Rs 20 lakh had
been repaid on June 10 last showed that the Studio had only
received the amounts as investment and there was no agreement
between the parties to pay interest.
The affidavit contended that the film was not being
produced by Ocher Studios, but by Ocher Picture Production, of
which Soundarya Rajnikant was the sole proprietor.
According to the suit, Soundarya Rajnikant had approached
NAPC to finance the movie and promised to return the principal
along with an annual interest of 24 per cent.
Ocher Studios had acknowledged receipt for Rs 50 lakh
furnished on Dec 27, 2007 and Rs 60 lakh on Feb 25, 2008 and
had executed a promisory note. Besides, Manian had provided an
additional Rs 50 lakh in Dec 2007, the suit said.
More from India
More from World
More from Sports
More from Entertaiment
- Vadodara: Policemen seen dancing with bar girls
- PM Modi speaks at Golden Jubilee celebrations of poet Dinkar’s works
- Zee Media Exclusive: Kangana, Madhavan talk about their film 'Tanu Weds Manu Returns'
- DNA: Harmful chemicals found in Maggi, Nestle India still in denial mode
- Coal scam: Naveen Jindal, Madhu Koda and others get bail
- One year of Modi govt: Arun Jaitley addresses press conference
- ISIS executes Syrian fighter using anti-tank rocket launcher
- CM Kejriwal shortlists 39 'unwanted' IAS officers in Delhi
- Zee Media Exclusive interview with Congress leader Kamal Nath
- DNA: Modi-led NDA govt's hits and misses in one year
- Rajasthan: Gujjars revive reservation agitation, block rail track
- Columbia student takes rape-protest mattress to graduation
- J Jayalalithaa sworn-in as Chief Minister of Tamil Nadu
- Mumbai: One injured in shootout at Film City
- Delhi: Car catches fire after crash, one dead
- IPL 2015, Qualifier 2: CSK vs RCB - As it happened...
- Tanu Weds Manu Returns movie review: Brilliant execution, superb performance!
- India to soon have its own space shuttle!
- Kejriwal slams notification on LG's powers, says Modi running Delhi govt through back door
- PM Narendra Modi graces Digvijay Singh's son wedding reception
- Rahul Gandhi to pressurise govt to act on one-rank-one-pension issue
- Businessman shot next to Amitabh Bachchan's shooting location in Mumbai Film City
- Goa Board SSC Exam Results 2015 announced
- ISIS close to buying nuclear weapon from Pakistan?
- Manohar Parrikar visits forward areas along LoC, reviews security situation
- RBSE 12th Science & Commerce Board Result 2015 declared
- West Bengal Board Class 10th Madhyamik Pariksha Results 2015 announced
- There will be no delay in appointing CIC, CVC: Jitendra Singh