The Madras high court on Monday ordered a ‘conditional’ stay on the release of Amitabh Bachchan starrer Aarakshan, produced by Prakash Jha and Firoz Nadiadwala, on Friday over non-payment of dues worth Rs 3.75 crore to financiers.
The court issued the order on a petition filed by Madhu Gupta and GG Photo Ltd, a Mumbai-based company. K Ravi, advocate for the petitioners, said they had moved the court after cheques issued by Nadiadwala bounced.
Judge V Periyakarupiah stayed the film’s worldwide release till the amount was paid to the financiers. Ravi said, “My clients had lent Rs 3.50 crore to the producer. With interest, the total dues are Rs 3.75 crore.”
The petition was filed in the Madras high court because the legal work of the company as well as Gupta is carried out in Chennai, and as per an agreement between the two sides.
Jha, also the director of the movie on the issue of reservation, said in Mumbai: “Firoz Nadiadwala is sorting it out. Aarakshan will release worldwide on August 12 as per schedule.”
With inputs from agencies