MUMBAI: The Madras High Court today lifted its interim stay on the release of Amitabh Bachchan starrer Aarakshan, following an out-of-court settlement between the producer and the financiers.
Justice V Periya Karuppiah had issued an injunction restraining the movie’s producer Firoz A Nadiadwala from screening Aarakshan on a civil suit filed by financiers Sushil Gupta, director of GG Photo Limited, and Madhu Gupta, who claimed that they had given Rs 32.5 million (Rs 3.25 crore) to the producer on 5 October, 2010 as advance and were yet to recover the amount.
The judge had issued the interim order yesterday (8 August) staying the worldwide release of the movie till the amount was paid.
In the civil suit, the plaintiffs had said GG Photos provided Rs 20 million (Rs 2 crore) to Nadiadwala’s Base Industries, while Gupta advanced Rs 12.5 million (Rs 1.25 crore) on various dates. The producer had entered into an agreement on 5 October with Sushil and Madhu Gupta and had confirmed the receipt of Rs 32.5 million.
Aarakshan, which is slated to release on 12 August, also stars Saif Ali Khan, Manoj Bajpai, Deepika Padukone and Praiek Babbar.