Nikhil’s new horror thriller ‘Ekkadiki Pothavu Chinnavada’ slated to release tomorrow in theaters is facing financial hindrances. Produced by PV Rao on high budget and directed by VI Anand, the film is carrying positive reports everywhere. However, demonetization is proving to be a stumbling block between producer and distributors.
As per reports from film circles, PV Rao is in a complex situation. Distributors from all the areas have reached the film office today morning to clear the payments paving way for a smooth release. Apparently, PV Rao isn’t agreeing to receive the currency in 500, 1000 denomination because distributors will be getting each and every rupee from tomorrow in valid currency notes. As advances paid by the respective area wise buyers are merely less than 30 to 40%, remaining 60% payments to be done in black today with old denominations might invite new problems for PV Rao in future.
Currently, few of the big heads in film industry are said to be mediating on the issue. PV Rao’s argument is although justifiable by argument and logic, how can distributors have huge 2000 denomination notes is also acceptable. Until this deadlock is resolved, EPC release lies in a deep dilemma. Meanwhile, PV Rao is also said to be in a financial crunch with delayed release, shoddy release strategy and a hiked budget.