Puri Jagannadh to Compensate Niranjan Reddy for 'Double iSmart' Losses: A New Chapter Begins
Producer-director Puri Jagannadh has reportedly reached an amicable settlement with distributor Niranjan Reddy, agreeing to compensate him for the losses incurred due to the underperformance of 'Double iSmart'.
Sources reveal that the issue has been resolved through mutual agreement, with Puri Jagannadh offering a compensation of Rs 20 crore to Niranjan Reddy. The compensation can be paid either in cash or through the production of a medium-budget film for Niranjan Reddy, who is also a producer.
Puri Jagannadh's Comeback Bid:
Undeterred by recent setbacks, Puri Jagannadh is determined to return to form with an ambitious action-centric bilingual film in Telugu and Tamil. He's even open to collaborating with a Tamil star if suitable Telugu heroes are unavailable. This new project reflects his eagerness to regain his box office winning streak after the flops of "Liger" and "Double iSmart".
Niranjan Reddy's Future Plans:
Meanwhile, Niranjan Reddy, known for his successful production venture 'HanuMan,' is expanding his horizons. He's planning a mythological film in Hindi and is in discussions with several directors. He's also actively involved in the distribution of Telugu films.
This settlement marks a new chapter for both Puri Jagannadh and Niranjan Reddy, who are both determined to bounce back with successful ventures. The industry is eagerly awaiting both their upcoming projects, expecting a return to the box office dominance they have previously demonstrated.