High Courts Warns Vishal

Vishal, who is currently enjoying the success of his recent film “Mark Antony,” has encountered legal troubles involving Lyca Productions, as cautioned by the Madras High Court. This legal matter originates from Vishal’s financial challenges, which led to him amassing a substantial debt of approximately 21 crores after independently producing several films.

In an attempt to resolve his financial predicament, Vishal entered into an agreement with the esteemed production company, Lyca Productions, who graciously agreed to cover his outstanding debts. As part of this arrangement, it was agreed that Vishal’s upcoming projects would be produced under the Lyca Productions banner.

Unfortunately, Vishal did not uphold this commitment and instead chose to collaborate with other producers for his subsequent ventures. Feeling wronged by this breach of agreement, Lyca Productions sought legal intervention and requested the court’s permission to halt the release of any of Vishal’s films until the matter was resolved.

However, the producer of “Mark Antony” expressed concerns about being inadvertently caught up in this dispute, as a delay in the film’s release could result in significant financial losses. Consequently, the court granted permission for the film’s release while the case against Vishal continued.

In response to the court’s directives, Vishal was instructed to deposit 15 crores out of the outstanding 21 crores and provide comprehensive bank statements for all transactions dating from January 2021 to the present. Additionally, he was required to submit an affidavit detailing his personal and family properties and assets by September 19th. Unfortunately, Vishal’s legal counsel failed to adhere to these requirements, exacerbating the situation.