Kollywood actor Vishal, who recently made headlines by announcing his relationship with Kabali actress Sai Dhansikaa, has received a huge jolt from Madras High Court. The court has ordered Vishal to cough up Rs 21.29 crore he owes to leading Tamil film production house Lyca Productions. The court has also ordered Vishal to pay 30 percent interest to Lyca.
According to the reports, Vishal had borrowed Rs 21.29 crore from noted Tamil film financier Anbucheriyan to produce a film under his production company, Vishal Film Factory. However, the loan was repaid to Anbucheriyan by Lyca Productions, following an understanding with Vishal. Lyca later moved the Madras High Court after Vishal failed to honor his commitment and didn’t clear the loan.
Apparently, Vishal and Lyca Productions had entered into an agreement that all the rights to the films produced under the Vishal Film Factory would belong to Lyca Productions until the loan was fully cleared. With Vishal violating the agreement and selling out his movies’ rights to other distributors, Lyca Productions moved the Madras High Court.