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MUMBAI: Vishal, a Tamil actor, has been at the center of controversy due to a dispute with Lyca Productions about unpaid loans. Vishal first took out a loan from Anbu Chezhian of Gopuram Films but was unable to pay it back. Lyca Productions stepped in and took over the repayment of the loan with the understanding that Vishal would repay the money with a 30% annual interest rate. Vishal didn't follow through on this promise though, which prompted Lyca to file a case with the Madras High Court.
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The lawyer for Lyca Productions said during the previous court hearing on October 12 before Justice Abdul Kuddoos that Vishal had carried out a transaction of 80 crore rupees in accordance with a bank statement submitted in adherence to the court order. Vishal purposely evaded paying back the loan, according to the attorney, despite having enough money to cover it. Vishal was ordered to deposit at least half of the debt, according to Lyca's side.
The money would have been returned, according to Vishal's counsel, but Lyca Productions refused to enter into negotiations. The judge delayed the case hearing until November 1 and demanded Vishal's side to provide an explanation for why the payment had not yet been made.
The high court had previously given Vishal the go-ahead to share his bank account information starting in 2021. Vishal was also warned by the court that making false claims in front of the court could result in repercussions, including a suspension from acting. The court approved Vishal's movie Mark Antony's scheduled September 15 release. Vishal was requested to reveal his and his family's movable and immovable assets in front of the court by Justice PT Asha during this hearing. Vishal was also ordered by the judge to provide a strategy on September 19 to settle the financial disagreement with Lyca Productions.
Vishal had maintained that he didn't have the money to pay Lyca Productions back. His attorney, PH Arvindh Pandian, asserted that the OTT and satellite rights for Vishal's movie Chakra will bring in Rs 17 crore. If Vishal received the rights to the movie, they would be eager to cash in on these rights and pay back the money. They had problems, though, as a result of Chakra's continued OTT and satellite distribution.
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