HC grants bail to film producer, with Rs20-crore rider
Justice AS Gadkari granted Arora bail on a personal bond of Rs20,000, with one or two solvent local sureties in the same amount.Updated: May 11, 2019 02:01 IST
The Bombay high court on May 3 granted bail to film producer Prernaa Arora, arrested for allegedly cheating film financer Vashu Bhagnani and his production house, Pooja Films Company, to the tune of Rs31.6 crore, although with a few riders.
Justice AS Gadkari granted Arora bail on a personal bond of Rs20,000, with one or two solvent local sureties in the same amount. The judge, however, agreed to let Arora out of Byculla jail, only after her father, Virendrakumar, submits an undertaking that she will deposit a sum of Rs20 crore with the HC registry by June 20, 2020, to prove her bona fide.
According to the schedule of payment submitted by her father, Rs50 lakh was to be deposited with the court registry on May 7. Arora was to be released only after a receipt of the payment to the HC registry was furnished.
“We haven’t yet received the receipt of the first instalment being deposited,” said a senior official attached to the jail.
In their complaint, Pooja Films Company alleged they paid Rs31.6 crore for distribution of their two films to KriArj Entertainment Private Limited, where Arora is a director. But Arora did not share the profits with them.
The producer was also ordered to deposit her passport with Juhu police station, where the complaint was filed on July 14, 2018.
SR Borulkar, the lawyer representing Arora, told justice Gadkari that a civil litigation, where Sony Entertainment Company had accepted liability of around Rs9 crore on behalf of KriArj to be paid to Pooja Films Company, is pending before the HC. Borulkar also submitted an affidavit-cum-undertaking of her father, assuring the HC that Rs20 crore would be deposited in instalments.
First Published: May 11, 2019 02:01 IST