The Madras High Court on Monday ordered attachment of a portion of late legendary actor and thespian Sivaji Ganesan’s sprawling house in the city over non-payment of loan borrowed by his grandson Dushyanth Ramkumar.Issuing the order on a petition filed by Dhanabakkiam Enterprises seeking to execute the decree in its favour, Justice Abdul Quddhouse also directed that the attachment order should be communication to the Sub-registrar office concerned.
The petitioner submitted that he had given Rs 3.75 crore loan to Eshan Productions of Dushyanth and his wife Abirami and producing a film “Jagajala Killadi”.
As Dushyanth failed to repay the loan amount as promised, the issue was referred for arbitration and a decree was issued in favour of Dhanabakkiam Enterprises allowing all the rights to it including the OTT rights of the said film.
Further, the quantum of amount to be paid by Dushyanth was fixed at Rs 9.02 crore, including 30 per cent interest.
As the film ws not completed, the arbitral decree could not be executed, Counsel for Dhanabakkiam Enterprises said, prompting him to move move the High Court seeking to the attach the house of Sivaji Ganesan ‘Annai Illam’ located at Chevaliar Sivaji Ganesan street in the upmarket T.Nagar area in the city, from the share of the late actor’s eldest son Ramkumar, who is the father of Dushyanth. Justice Abdul Quddhose issued the attachment orders after efforts to mediate ended in vain, with Dhanabakkiam Enterprises, represented by its partner Akshay Sarin, demanding a settlement of Rs 9.39 crore (including the principal amount of Rs 3.74 crore, along with 30% interest, working out to over Rs 5 crore till July 31, 2023).
The actorâs family members, however, said they were willing to pay an one-time settlement of only Rs 2.75 crore (apart from the payments already made).
Following the court order, the Sub-Registrar made an entry in the propertyâs Encumbrance Certificate to the extent of 13,310 sqft out of the total extent of around 53,240 sqft.
The petitioner enterprise had valued the entire property at Rs 88.50 crore and said that Ramkumarâs one-fourth share alone would be around Rs 22.15 crore, and that it would suffice to recover the dues