Producer Aascar Ravichandran’s properties have been seized by Indian Overseas Bank due to debts. According to reports, bank authorities were forced to take over Aascar’s properties as the loan amount of Rs 96.75 crores had not been repaid yet. The bank is even said to have filed a case with the Debt Recovery Tribunal regarding this issue.
Meanwhile, a source close to the beleaguered producer informs us that the remaining dues will be settled in a month’s time and that all efforts are being made to secure Aascar’s properties including histheatre in Vellore, home an office spaces in Chennai.
It is to be noted that Kamal Haasan’s Vishwaroopam 2 and Bhooloham have been waiting for release for over a year now. Kamal Haasan has even gone on record to say that he had no idea why Aascar had not released his film yet.