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| Lalitha Kumari, Prakash Raj & Children |
Chennai: Help for actor-producer Prakash Raj came from unexpected quarters on Thursday when his ex-wife Lalitha Kumari bailed him out of a court case filed by a Chennai-based financier for recovery of dues amounting to Rs 80 lakh.
Prakash Raj's former wife Lalitha Kumari offered her property as security for the debt the actor owed Mahendra Kumar Jain, following which the Madras high court permitted the release of his latest film 'Payanam' on Friday. (The actor divorced Lalitha Kumari and married choreographer Pony Verma in August last year).
The court directed Prakash Raj to furnish a security of Rs 50 lakh towards the debt. He gave an undertaking that he would furnish a bank guarantee for any shortfall in the security besides his former wife's property, situated in Vadagambadi village in Kancheepuram district.
According to Jain, a city-based businessman, Prakash Raj borrowed money at 24% interest per annum on several occasions from him. The actor owed him a total of Rs 80 lakh, he said.
On March 31, 2010, Prakash Raj executed a deed assigning copyright of Payanam' to him and promised that he would not release the movie without settling the dues, Jain said. But the actor was now trying to release the film without repaying the debt, he said.
Jain also alleged that the actor had on December 13, 2008 executed a deed of undertaking during the production of his previous film Abiyum Naanum', saying that he would not sell the rights or release the film without settling the dues. But contrary to his promise, he had released Abiyum Naanum' before the settlement, Jain said. If Payanam' was allowed to be released without settling the dues, it would defeat his rights, he said in the petition.
Prakash Raj's former wife Lalitha Kumari offered her property as security for the debt the actor owed Mahendra Kumar Jain, following which the Madras high court permitted the release of his latest film 'Payanam' on Friday. (The actor divorced Lalitha Kumari and married choreographer Pony Verma in August last year).
The court directed Prakash Raj to furnish a security of Rs 50 lakh towards the debt. He gave an undertaking that he would furnish a bank guarantee for any shortfall in the security besides his former wife's property, situated in Vadagambadi village in Kancheepuram district.
According to Jain, a city-based businessman, Prakash Raj borrowed money at 24% interest per annum on several occasions from him. The actor owed him a total of Rs 80 lakh, he said.
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| Pony & Prakash Raj |
Jain also alleged that the actor had on December 13, 2008 executed a deed of undertaking during the production of his previous film Abiyum Naanum', saying that he would not sell the rights or release the film without settling the dues. But contrary to his promise, he had released Abiyum Naanum' before the settlement, Jain said. If Payanam' was allowed to be released without settling the dues, it would defeat his rights, he said in the petition.
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| Lalitha Kumari, Jyothika, Surya & Praksh Raj |
