Kapoor had run into a legal dispute with his financier LMB Holdings, over an advance of Rs10 crore. Earlier, the Bombay high court had directed the producer to deposit Rs10 crore.
The Supreme Court on Wednesday allowed Bollywood producer Boney Kapoor to release his film
Wanted starring Salman Khan on September 18, after he deposited a security of Rs2 crore by September 16.
Kapoor had run into a legal dispute with his financier LMB Holdings, over an advance of Rs10 crore. Earlier, the Bombay high court had directed the producer to deposit Rs10 crore before releasing the movie.
The film is also facing other law suits in Bombay high court and Madras high court where Sridevi Productions, Wanted’s production house, had been asked to furnish a bank guarantee for a sum of Rs3.6 crore or deposit the amount in cash and also a security for another Rs5.4 crore within a week. The court had said that the screening of the movie would be stopped if the securities were not deposited.
This order came on a suit filed by Mumbai-based GG Photo, seeking a recovery of over Rs6.74 crore from Sridevi Kapoor, her husband Boney Kapoor and father-in-law Surendra Kapoor. A report which quoted Sushil Gupta, director, GG Photo contended that two other suits had also been filed by closely associated business concerns represented by him. The amount involved in three suits was about Rs7.92 crore, it said.
The film was also stuck in a copyright row. Kishore Dhingra, owner of film production company Megasound Entertainment, had filed a petition in the Bombay high court alleging that the song
Ishq Vishq, Pyar Vyar, penned by lyricist Sameer, was meant originally for his film. However, since the film got stuck due to some problems, Sameer offered the same song to Kapoor to be used in Wanted. He had claimed he was not informed that the song was being used in Kapoor’s film.
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