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The Madras High Court has dismissed appeals filed by creditors challenging the release of director Gautam Vasudev Menon and Vikram’s much-anticipated Dhruva Natchathiram.
A division bench comprising Justices P Velmurugan and K Govindarajan Thilakavadi dismissed appeals filed by creditors K Prem Kumar and K Punniyamoorthy against an earlier order that had paved the way for the film's release. A detailed judgment is yet awaited in this matter, Live Law reported.
The development follows an April 30 order by a single judge of the High Court, which permitted the film's release subject to several conditions. The court directed the creation of an escrow account in the name of Kondaduvom Entertainment, a company owned by Menon, through which all financial transactions related to the film would be routed.
The court also appointed an advocate commissioner to oversee the account and monitor transactions made before and after the movie's release. The order was issued in response to petitions filed by creditors K Punniyamoorthy and K Premkumar, who sought to block the film's release over outstanding dues.
The dispute dates back to a financial disagreement involving the theatrical distribution rights of the Tamil film Enai Noki Paayum Thota . Arbitration proceedings were initiated after a dispute with Escape Artists Motion Pictures, one of the producers of
Dhruva Natchathiram.
The parties reportedly later signed a Memorandum of Understanding (MoU) in 2018, under which 50% of the producer's rights in Dhruva Natchathiram were transferred to the producers.
When plans were announced to release the film in 2023, the creditors approached the High Court seeking to block its release, arguing that the movie served as security for recovering their dues. The court subsequently granted an interim injunction, delaying the film's release.
During later proceedings, the court explored the possibility of allowing the film's release while ensuring payments to creditors. Both the creditors and the filmmakers eventually agreed to a framework under which dues would be settled before and after the movie's release.
The matter became more complex when additional creditors intervened in the case. However, they later informed the court that they had no objection to the film's release, subject to making payments to them. Taking note of assurances, the court ordered that all funds connected to the film be deposited into the escrow account and that future payments be made through it.
The court had also recorded submissions from the filmmakers indicating efforts to release the movie by June 15. However, Menon has now approached the High Court seeking an extension of the deadline. Justice K Kumaresh Babu adjourned the plea until June 17 and decided that the matter would be considered after the division bench's order.
A division bench comprising Justices P Velmurugan and K Govindarajan Thilakavadi dismissed appeals filed by creditors K Prem Kumar and K Punniyamoorthy against an earlier order that had paved the way for the film's release. A detailed judgment is yet awaited in this matter, Live Law reported.
The development follows an April 30 order by a single judge of the High Court, which permitted the film's release subject to several conditions. The court directed the creation of an escrow account in the name of Kondaduvom Entertainment, a company owned by Menon, through which all financial transactions related to the film would be routed.
The court also appointed an advocate commissioner to oversee the account and monitor transactions made before and after the movie's release. The order was issued in response to petitions filed by creditors K Punniyamoorthy and K Premkumar, who sought to block the film's release over outstanding dues.
The dispute dates back to a financial disagreement involving the theatrical distribution rights of the Tamil film Enai Noki Paayum Thota . Arbitration proceedings were initiated after a dispute with Escape Artists Motion Pictures, one of the producers of
The parties reportedly later signed a Memorandum of Understanding (MoU) in 2018, under which 50% of the producer's rights in Dhruva Natchathiram were transferred to the producers.
When plans were announced to release the film in 2023, the creditors approached the High Court seeking to block its release, arguing that the movie served as security for recovering their dues. The court subsequently granted an interim injunction, delaying the film's release.
During later proceedings, the court explored the possibility of allowing the film's release while ensuring payments to creditors. Both the creditors and the filmmakers eventually agreed to a framework under which dues would be settled before and after the movie's release.
The matter became more complex when additional creditors intervened in the case. However, they later informed the court that they had no objection to the film's release, subject to making payments to them. Taking note of assurances, the court ordered that all funds connected to the film be deposited into the escrow account and that future payments be made through it.
The court had also recorded submissions from the filmmakers indicating efforts to release the movie by June 15. However, Menon has now approached the High Court seeking an extension of the deadline. Justice K Kumaresh Babu adjourned the plea until June 17 and decided that the matter would be considered after the division bench's order.
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