An Injunction application had been filed on 29th April 2015 by M/s Radiance Media Private Limited in the Honourable High Court of Madras seeking an order praying an Injunction to release the films “Uttama Villain” and “Rajni Murugan” produced by Thirrupathi Brothers Film Media. It is said that and advance payment of Rupees Five Crores had been lend as a loan by Radiance Media Private Ltd., to Thirrupathi Brothers to produce two films “Uttama Villain” and “Rajni Murugan” against a loan agreement between both on 11th August 2014. The agreement states that the loan amount together with interest, service charges and other charges to be settled before 11th November 2014.
Since Thirrupathi Brothers failed to pay the whole amount before the said date, Radiance Media had approached the Honourable High Court of Madras seeking order of Injunction for the two movies. But before an agreement signed between Radiance Media and Thirrupathi Brothers, Thirrupathi Brothers had signed up an agreement on 13th November 2013 with M/s Zee Entertainment Enterprises Ltd. As per the assigned agreement dated 13th November 2013, Zee Entertainment was liable to pay Rupees Thirteen Crores to Thirrupathi Brothers.
It appears that an approximate amount of Rupees Six crores has been paid by Zee Entertainment to Thirrupathi Brothers as per the agreement between the both. Unfortunately Radiance media has not been assigned any rights with the feature film as per the agreement and the agreement mentions parallel that Radiance Media has right to receive all revenues from satellite telecast.
The Honourable Judge Mr. Justice V. Balasubramani after going thoroughly with the applications of both applicant and respondent has said that the Satellite Telecast or Television Broadcast would happen only after the Theaterical release of the film. Therefore the time to seek enforcement of of Clause 5 of the loan agreement is not yet ripe. In addition, the reliefs listed in Clause 9 of the loan agreement, do not really confer any right upon the applicant other than those already confirmed by Clause 5, as can be seen from Clause 9.3. Stating this reason the Honourable Judge refused to grant an Injunction and rejected the application praying for an Injunction.
But, the Honourable Judge in his order had mentioned as, “However, the respondent is directed to ensure that Clause 2.1.4 of the Assignment Agreement dated 13.11.2013 is honoured by M/s. Zee Entertainment Enterprises Limited and the commitment given by them not to release the second film even in theaters without making full and final payment to the applicant shall also stand honoured.”. This order means that Thirrupathi Brothers has to make a full and final settlement of their loan against their agreement dated 11th August 2014 and then release the movie “Rajni Murugan”.
Sources say that the Audio Launch of the movie “Rajni Murugan” is scheduled to happen on 25th May 2015. If at all Zee Entertainment pays an amount of Rs. 4.68 crores in instalments before the Audio Launch and Movie release to Radiance Media which is payable to Thirrupathi Brothers, the balance amount that would be payable to Radiance Media by Thirrupathi Brothers would be Rs. 1, 05, 00, 000 (Rupees One Crore and Five Lakhs). Until Thirrupathi Brothers clears that Rupess Once Crore and Five Lakhs along with Rs.4.68 payable by Zee Entertainment, Thirrupathi Brouthers would not be able to release the movie “Rajni Murugan” starred by Sivakarthikeyan and directed by Ponram.
Sources say that though Thirrupathi Brothers had made Box office collections in the recent two years in few movies of their productions and releases, the reason for their loss is due to exorbitant interest been charged by some private financiers. It is also said that many producers have been affected by few private financiers by their exorbitant interest levied on the loans taken by the producers. Sources say that the government authorities are now on a clear vigil against private financiers and their exorbitant interest charged.
