HC directs Lyca Productions to pay Rs. 5 lakh to actor Vishal!

PUBLISHED DATE : 19/Aug/2021

HC directs Lyca Productions to pay Rs. 5 lakh to actor Vishal!

The Madras High Court has imposed costs of Rs. 5 lakh on Lyca Productions and has directed the film production company to pay it to actor Vishal. The order came with respect to a civil suit which was filed by Lyca Productions over a 2019 loan agreement with Vishal. Lyca had claimed that they loaned Vishal Rs 21.29 Cr. with an interest of 30% per year and the actor had failed to pay up as agreed.

 

Justice Jayachandran stated that he found "no unequivocal admission of liability, that too for the entire suit claim" after hearing both sides.

 

 

In addition to imposing Rs. 5 lakh on Lyca, the Madras High Court also ordered actor Vishal to deposit 50% of Chakra's sale proceeds (the movie for which he had taken the said loan) until final verdict of the case was announced.

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