Tamil actor Vishal has been embroiled in a controversy over a dispute with Lyca Productions concerning unpaid loans. Vishal originally borrowed money from Anbu Chezhian of Gopuram Films, which he couldn’t repay. Lyca Productions stepped in and paid off the loan, with the understanding that Vishal would return the amount with a 30% per annum interest rate. However, Vishal failed to meet this commitment, leading Lyca to approach the Madras High Court.
In the recent court hearing on October 12 before Justice Abdul Kuddoos, Lyca Productions’ lawyer alleged that Vishal had conducted a transaction of 80 crore rupees according to a bank statement filed in compliance with the court order. The lawyer claimed that Vishal intentionally avoided repaying the money, despite having sufficient financial resources. Lyca’s side requested that Vishal be directed to deposit at least half of the amount owed.
Vishal’s representatives stated that they were willing to repay the money, but negotiations were refused by Lyca Productions. The judge ordered Vishal’s side to explain why the payment had not been made yet and postponed the case hearing to November 1.
In a previous court hearing, the high court had instructed Vishal to provide his bank account details from 2021. The court also warned Vishal that he might face consequences, including a ban from acting, if false statements were made before the court. The court allowed the release of Vishal’s film Mark Antony on September 15 as scheduled. During this hearing, Justice PT Asha asked Vishal to disclose his and his family members’ movable and immovable assets before the court. The judge also directed Vishal to present a plan to resolve the financial dispute with Lyca Productions on September 19.
Vishal had argued that he lacked the necessary funds to repay Lyca Productions. His counsel, PH Arvindh Pandian, claimed that Vishal’s film Chakra would earn Rs 17 crore through OTT and satellite rights. They were willing to monetize these rights and repay the money if the film’s rights were allocated to Vishal. However, they faced difficulties due to a stay on the OTT and satellite release of Chakra.
