Court Orders For The Makers Of Kanguva And Thangalaan

The Madras High Court has ordered Studio Green, a production company, to deposit Rs 1 crore each for the films 'Thangalan' starring Vikram and 'Kanguva' starring Suriya with the official assignee by August 14. The court's directive comes ahead of the release of 'Thangalan' on August 15 and 'Kanguva' at a later date. The order is related to an execution petition filed by the official assignee to recover debts due to insolvent businessman Arjunlal Sunderdas, who had invested Rs 40 crore in a movie production in 2011.

The official assignee had filed an application in 2016 stating that Sunderdas had paid Rs 12.85 crore to Studio Green between 2011 and 2012 but decided to back off due to lack of funds. The production house expressed its inability to repay the entire amount, claiming it was spent on pre-production work. The insolvent got back only Rs 2.5 crore, leaving a balance of Rs 10.35 crore.

The court had allowed the official assignee's application in 2019, directing Studio Green to deposit Rs 10.35 crore with 18% interest since 2013. However, the order was not complied with, leading to the present execution petition. The court has now ordered Studio Green to deposit the amount before the release of 'Kanguva' and attached the production house's future movies, including 'Thangalan' and 'Kanguva', until the order is complied with.

The Madras High Court's order is a significant development in the case, and Studio Green is expected to comply with the directive to avoid any further legal action. The court's decision is a victory for the official assignee and the depositors who had invested in Sunderdas' finance and real estate companies.