Vishal Is Ordered To Pay Lyca By High Court

The Madras High Court has ordered Tamil actor Vishal to pay a debt of Rs. 21.29 crore to Lyca Productions, along with 30% interest. The dispute began when Vishal borrowed Rs. 21.29 crore from financier G.N. Anbu Cheliyan's 'Gopuram Films' for his 'Vishal Film Factory'. Lyca Productions took over this loan and entered into an agreement with Vishal, whereby they would own all the rights to the films produced by Vishal until the loan was paid off.

However, Lyca Productions alleged that Vishal violated this agreement by selling the rights of the film Veeramai Vaagai Choodam to other companies instead of Lyca. As a result, Lyca Productions approached the Madras High Court in 2022. The court directed Vishal to deposit Rs. 15 crore and submit details of his assets, but Vishal failed to comply with these orders, leading to a contempt of court case.

After a long trial of two and a half years, the Madras High Court announced its verdict in favor of Lyca Productions. The court ordered Vishal to pay the principal amount of Rs. 21.29 crore, along with 30% interest, as well as legal costs. Vishal had submitted documents related to his assets, including 3 cars, a bike, two bank accounts, and home loan documents, but the court ruled in favor of Lyca Productions.

The Madras High Court's verdict has significant implications for Vishal, who will have to pay a substantial amount to Lyca Productions. The case highlights the importance of adhering to contractual agreements and the consequences of defaulting on loans. Vishal's next steps will depend on his financial situation and his ability to comply with the court's orders.