CHENNAI: Signalling trouble for Ajith-starrer 'Arrambam',
scheduled for a Diwali release, a film financier has moved
the Madras high court against its release saying its producer
had not yet returned the money borrowed from her.
Justice V Ramasubramanian, before whom the petition of B
Rajeswari of Shenoy Nagar came up for admission on Friday,
has issued notice to the film's producer A M Rathnam.
The petitioner said Rathnam, who owns Sri Surya Movies,
had borrowed 1.5 crore from them in May 2005 to produce a
film titled 'Kaedi'. Though he was to repay the amount with
interest by 2006, he could not settle the debt. Later, he
signed a new agreement to repay the sum with a higher
interest rate. In 2006, another agreement was signed by
them during the production of 'Nandalala' and Rathnam
agreed to return the amount with 36% annual interest. As on
October 10, 2013, Rathnam owed 4.5 crore to the family, the
petitioner said.
SOURCE:TIMES OF INDIA
scheduled for a Diwali release, a film financier has moved
the Madras high court against its release saying its producer
had not yet returned the money borrowed from her.
Justice V Ramasubramanian, before whom the petition of B
Rajeswari of Shenoy Nagar came up for admission on Friday,
has issued notice to the film's producer A M Rathnam.
The petitioner said Rathnam, who owns Sri Surya Movies,
had borrowed 1.5 crore from them in May 2005 to produce a
film titled 'Kaedi'. Though he was to repay the amount with
interest by 2006, he could not settle the debt. Later, he
signed a new agreement to repay the sum with a higher
interest rate. In 2006, another agreement was signed by
them during the production of 'Nandalala' and Rathnam
agreed to return the amount with 36% annual interest. As on
October 10, 2013, Rathnam owed 4.5 crore to the family, the
SOURCE:TIMES OF INDIA
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