The Madras High Court has lifted the previous stay on the release of the film "Mark Antony," featuring Vishal, and set the release date for September 15.
During the court proceedings, Justice PT Asha, in the presence of Vishal, issued a directive requiring the actor to provide his bank statements, comprehensive asset information, and a repayment plan to entertainment company Lyca Productions by September 19, which is the next scheduled hearing date.
Justice Asha cautioned Vishal and his legal representatives, stating that if any discrepancies were discovered, he would not permit Vishal to continue his acting career.
The case before the court revolves around allegations that Vishal failed to repay ₹15 crore out of the total ₹21.29 crore debt he owed to Lyca Productions.
According to the lawsuit, Vishal initially borrowed over ₹21 crore from GN Anbu Chezhian. When he was unable to repay the loan, Lyca Productions stepped in and settled the debt with Anbu Chezhian, with an agreement that Vishal would reimburse Lyca the full amount along with a 30 percent annual interest rate.
However, when Vishal failed to fulfill this commitment, Lyca Productions sought intervention from the High Court.
On March 8 of the previous year, the High Court ordered Vishal to deposit ₹15 crore and simultaneously restrained him from releasing any films, whether produced or financed by him, in theaters or on over-the-top (OTT) platforms.
Lyca Productions recently filed an application alleging that Vishal had not complied with the court's orders by failing to deposit the money and provide an affidavit detailing his assets, as mandated in March 2022.
TAGS: Madras High Court Mark Antony release Vishal bank statements assets declaration Lyca Productions loan interest court proceedings.
