Jayapradha, who is a partner of the Jayapradha Theatre here has prayed for the restoration of the insolvency petition facilitating the hearing in the case. As per the September 2006 order, Jayapradha Theatre represented by its partners and Raj Theatre represented by its partners and Vishal of Sunny Movies have been declared insolvents on a creditor's petition. Consequent to the adjudication order, all the assets were vested with the official assignee.
Meanwhile, communicating the same to the Chennai Corporation authorities, S Sitrarasu, the official assignee of the creditor M/s Woodlands Theatre, informed that he had learnt through newspaper reports that property tax amounting to Rs.20,00,000 was due from the partners of Jayapradha Theatre to the Corporation, which initiated recovery proceedings. Sitrarasu asked the civic officials to submit their claim before him and assist him to dispose the property at the earliest, so that the creditors' amount could be repaid.
In a related development, the third assistant city civil court reserved for Friday orders on an application from Rajbabu, Jayapradha's brother, seeking to suspend the court's earlier order dated February 1, 2008, dismissing a civil suit. According to Chennai Corporation, Jayapradha and Rajbabu owed Rs. 20 lakh property tax to the civic body following the dismissal of the suit.
The civic authorities commenced the proceedings to attach the property and seized three film reels and projectors from Jayapradha Theatre and Raj Theatre on February 22.