Vishal Krishna, the Tamil actor, has been directed by a lower court in Chennai to repay Rs 50 lakh that he had borrowed from financier Vijay Kothari
A press note issued by an additional city civil court said that Vishal had borrowed Rs 50 lakh for the shoot of Tamil action film Sandakozhi 2, co-produced by the actor himself under his banner of Vishal Film Factory in 2008.
Kothari’s complaint filed a complaint against Vishal and his producer brother Vikram Krishna, who failed to repay the amount along with 24% interest, as stated in the promissory note.
Failing to repay the amount, Vishal produced a letter in March 2015, acknowledging the debt. Though the actor gave a cheque of Rs 50 lakh to settle the dues in April 2018, he mentioned that “the cheque need not be presented till such (before the release of the film) time”.
After Vishal advertised for the film’s release on 18, March 2018, Kothari claimed to have contacted him several times, but the actor had allegedly avoided him. After Vishal failed to keep his word several times, Kothari filed a complaint in the court seeking interim relief to “direct the defendants to furnish security and on failure to order attachment of the film ‘Sandakozhi 2’. Hence the suit.”
In return, Vishal and his brother sought “unconditional leave” to defend the suit filed against them, denying all the allegations mentioned in the complaint and urged that “they must be given a chance to contest the same” and have claimed to have repaid the entire amount.
Advocate G Surya Narayanan, who is representing Vishal, issued an execution petition stating that Kothari had bought the media rights for his film Chakra, for which the payments were yet to be released so he should balance both the amounts and pay the remaining due.
The court has dismissed Vishal and his brother’s petitioner for failing to submit any documents that show the repayment of the amount. The court has ordered Vishal to pay Rs 50 lakh, along with an interest rate of 9% per annum from the date of filing of the suit till the date of judgement and 6% per annum from the judgement date till the date of realisation.