CHENNAI: The Madras High Court has directed actor Vishal Krishna to file a counter on why the money has not been deposited in the bank account of Lyca Productions as ordered by the court and posted the matter after the pooja holidays.
Hema Srinivasan, the counsel for Lyca Productions, filed a memo, before Justice Abdul Quddhose regarding the bank statements and asset details submitted by Vishal.
The counsel contended that the bank statements submitted by the actor don't have clarity with transactions and stated that Vishal is suppressing his original assets and money which he has.
It was also contended that Vishal has not re-paid Rs 15 crores to them as directed by the court and sought direction to deposit the money. However, the counsel appeared for Vishal and contended that they are ready to repay the money, but the film production company is not ready for the mediation.
After the submission, the judge directed the actor to file a counter and posted the matter to November 1 for further hearing.
Vishal had taken a loan from Anbu Chezhian of Gopuram Films to the tune of Rs.21.29 crores when he remained unpaid the loan amount, Lyca Productions stepped in and paid Anbu Chezhian on the promise that Vishal would repay the entire amount to Lyca with the interest at the rate of 30 percent per annum. However, the amount remained unpaid, and Lyca had approached the High Court.
While hearing the petition, the single Judge directed Vishal to make a fixed deposit of Rs. 15 crore to the credit of the civil suit. However, Vishal contended before the court that he did not have the requisite resources to deposit Rs.15 crores.
On September 25, Vishal submitted the details of his bank statements with movable and immovable properties before the court.