The Madras High Court has ordered Tamil actor Vishal to file an affidavit, revealing his assets by September 9. The order was passed by Justice Senthilkumar Ramamoorthy in connection with a loan default case registered by Lyca Productions for the movie Veerame Vagai Soodum.
The judgement came after Lyca Productions filed a case against Vishal related to the repayment of the sum of ₹21.29 crores. In its petition, the production house claimed that Vishal took a loan of ₹21.29 crores to launch his production company, Vishal Film Factory. In the petition, Lyca Production wrote, “The actor availed the loan from Anbuchezhian of Gopuram Films and later on, it was taken over by Lyca Production with an agreement."
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It further stated that as per clause 5 of the agreement, Lyca Productions will be the first lien on all rights, titles and interest in all future projects of the Chakra actor until the debt is fully repaid. The agreement between Vishal and Lyca Productions was reportedly signed on September 21, 2019.
The production house, in its petition, urged the Madras High Court to pass the order that all the receivables about Veerame Vagai Soodum should be deposited to the credit of the suit. The petition mentioned the receivables of both actor Vishal and the film’s producer. On the other hand, Vishal contended that at the initial stage, he borrowed ₹12 cores and then ₹3 crores, hence the amount of ₹21.29 crores is not tenable. The judge had also asked Vishal to pay ₹15 crores as a fixed deposit in the name of the Registrar of the High Court.
The movie Veerame Vagai Soodum starred Dimple Hayathi, Vishal, Raveena Ravi, Baburaj, Yogi Babu, RNR Manohar and Ramana in prominent roles. It was directed by Thu Pa Saravanan and jointly produced under the Vishal Film Factory and Malik Stream Corporation Banners. The Tamil film was theatrically released on February 4, 2022.
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