The hearing of the ongoing case between actor Vishal and Lyca Production over unpaid loans was held on Tuesday at Madras High Court. The high court has ordered the actor to submit his bank account details from 2021 and warned him that he will not be allowed to act if his averments before the courts are found false. The court has also allowed the release of the film Mark Antony on September 15 as scheduled.
The case was presented before Justice PT Asha who directed Vishal to produce his and his family members’ movable and immovable assets details before the court while hearing a civil suit case failed by Lyca Productions against the actor. The judge also instructed the actor to come up with a road map to settle the money dispute with Lyca Production on September 19.
The court also warned Vishal that if his averments about his bank statements are found false then perjury proceedings will be initiated against him. The actor had claimed that he didn’t have the resources to repay the money to Lyca Productions.
“If I found anything wrong I will not allow him to act in future,” the judge said in the open court.
The senior counsel PH Arvindh Pandian representing Vishal argued that the film Chakra produced and acted by Vishal will make Rs 17 crore in OTT and satellite and if the rights for the film are given to Vishal then they are ready to monetize it and repay the money. He also contended that they are unable to do so as Chakra has a stay on its OTT and satellite release.
The senior counsel Raghavachari representing Lyca retorted by saying that the film was released two years ago and now there is no value for the film.
Vishal’s counsel said that he had not received any money from Lyca. An agreement was made between Vishal and the production house to settle the loan taken by Vishal from Gopuram Films Anbu Chezhiyan.
He also mentioned that Lyca promised to pay Rs 8 crore as GST for Vishal which was not paid, hence his bank account is frozen. He also added that Vishal received only Rs 15 crore from Anbu Chezhiyan and doesn’t know how the numbers changed to Rs 21.29 crore as per Lyca’s claim. The lawyer also asked to appoint a chartered accountant and mediator to sit across the table so they can come to a common ground to know how much money is liable to pay.
The production house’s counsel said that Vishal has received Rs 40 crore for the past two years as salary for various projects.
Vishal took a loan from Anbu Chezhian of Gopuram Films. When he couldn’t pay the loan amount, Lyca Productions stepped in and paid it to Anb Chezhian on the promise that Vishal would repay the entire amount to Lyca with interest at the rate of 30 per cent per annum. Vishal failed to do so, following which Lyca had approached the High Court. While hearing the petition earlier, the court directed Vishal to make a fixed deposit of Rs 15 crore to the credit of the civil suit. The actor, in the last hearing, said he doesn’t have enough money to pay.
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