17.5 Cr outstanding dues caused the trouble for ‘I’

‘I’ is caught in legal issues over non-payment of loan worth Rs.15 Crores by the agreement between PVP and I producer Aascar Ravichandran made in 2013 but now the outstanding dues went up to 17.5Cr. This amount is supposed to be paid back prior to the release of the film. Madras High Court had to pass interim order imposing stay on the film’s release across the country and overseas as well, responding on the application by PVP’s Picture House Media Ltd. Until all the dues are cleared, as per the agreement, Shankar’s ‘I’ can’t go for theatrical release.

However, there is strong buzz in Tamil media circles that issue between I producer and Picturehouse has been sorted out after some late night meetings and an official confirmation is expected today.

Like in the case of ‘Lingaa’, financial glitches have been marring the mega movie releases recently causing some last hour tensions. Let’s hope that issues with ‘I’ will be sorted out soon.