» Madras High Court lifts stay on Aarakshan release
Madras High Court lifts stay on Aarakshan release
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The Madras High Court has lifted its stay on the release of Prakash Jha's film Aarakshan after both the concerned parties opted for an out-of-court settlement. Just two days ago the film's release was held over a financial dispute between co-producer Firoz A Nadiadwala and Sushil Gupta, the director of G G Photo Limited.
The petition filed by Gupta claimed that Nadiadwala had failed to pay back Rs 3.25 crore that he had borrowed. The notice also informed that Nadiadwala has taken an undertaking that he will repay the sum with interest before September 2011 or before the release of his forthcoming film. The producer had issued four cheques on March 31, 2011, but all of them bounced. The agreement papers also stated Nadiadwala could not release the prints of the film Aarakshan unless the dues were paid.
Taking actions on the petition filed by Sushil Gupta, the Madras High Court directed that the release of Aarakshan will be held till the filmmaker pays Rs 3.17 crore with interest to the concerned party. However, on Tuesday an endorsement was made in the court stating that in view of the settlement between both parties, the stay was lifted.
Film Aarakshan, directed and co-produced by Prakash Jha stars Amitabh Bachchan, Saif Ali Khan, Deepika Padukone, Prateik Babbar and Manoj Bajpayee in the leading roles. The film will hit the theatres this coming Friday, 12th August, 2011.