The Madras High Court has scheduled the final hearing of the dispute between actor Vishal Krishna and Lyca Productions for June 28. This decision was made by Justice P T Asha, who heard the petition filed by Lyca Productions seeking repayment of funds advanced on behalf of the actor.
Background of the Dispute
The conflict traces back to a loan Vishal had taken from Anbu Chezhian of Gopuram Films amounting to Rs. 21.29 crores. When Vishal failed to repay the loan, Lyca Productions intervened, paying off the amount on the condition that Vishal would repay Lyca with interest at the rate of 30 percent per annum. However, Vishal has not repaid the amount, leading Lyca Productions to seek legal redress.
Court Proceedings
During the hearing, senior counsel Arvindh Pandian, representing Vishal, requested the court to appoint a conciliation officer to facilitate an amicable settlement. However, Lyca Productions’ counsel argued that despite Vishal’s assurances of a willingness to settle, he had not taken any concrete steps to resolve the issue. Given these submissions, the judge scheduled the final hearing for June 28.
Court’s Directive and Vishal’s Response
Previously, the court had directed Vishal to make a fixed deposit of Rs. 15 crores towards the credit of the civil suit. Vishal, however, contended that he lacked the financial resources to comply with this order. In response to the court’s directive, Vishal furnished details of his bank accounts and assets to substantiate his claim.
Anticipation of Final Hearing
The upcoming final hearing is expected to address the unresolved issues between the two parties and potentially bring a conclusion to the protracted legal battle. Both sides are anticipated to present their final arguments, with the court’s decision likely to have significant implications for both Vishal Krishna and Lyca Productions.
As the final hearing date approaches, all eyes will be on the Madras High Court to see