Despite of any appeals that are likely to be made by producer Aascar Films and Reliance Entertainment together, Madras High Court is unlikely to bend over their orders that the release of Shankar’s marvellous film “I” should be stalled till January 30th.
Earlier, Madras High Court has ordered producers to hold the release as they have violated a commercial and financial agreement with the Chennai based company Picturehouse Pvt Ltd, which was supposed to be the financier of the movie.
This company is owned by none other popular businessman PVP aka Potluri Vara Prasad. Earlier director Shankar went on record to say that the film’s budget hasn’t escalated but is far below 100 crores.
However, the interests levied on the total loan has now accounted to a ‘lumsum’ amount and producers Ravichandran and Ramesh Babu of Aascar films have failed to clear a part of the loan before the release. Agreeing with the petition lodged by Picturehouse Media, Court has now issued an interim injunction order to all the distributors, labs and digital projection companies asscoaited wtih the release of “I”.
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