What is Vishal's ₹21cr legal dispute with Lyca Productions?
What's the story
Actor Vishal is embroiled in a legal dispute with Lyca Productions over an alleged unpaid amount of over ₹21cr. The Madras High Court recently denied his request to exit a 2019 agreement that temporarily transferred his film rights to the production house until this debt was cleared. This ruling comes after Lyca sought enforcement of the clause giving them control over these rights until repayment is complete.
Background
The dispute originated from a loan agreement
The legal battle traces back to an alleged loan of ₹21.29cr taken by Vishal Film Factory from Anbuchezhiyan of Gopuram Films. Lyca Productions later intervened to pay off this debt, resulting in an agreement that temporarily transferred Vishal's film rights to them until the loan was fully repaid. However, the actor has contested these claims, stating he never borrowed such an amount from either Gopuram Films or Lyca Productions.
Actor's argument
Vishal's defense and court's stance
Vishal argued that since he only acted in Gopuram Films-backed Marudhu for remuneration, "the question of taking a loan would not begin at all." He claimed to have had financial dealings of only ₹12cr with Gopuram Films and said he signed the "one-sided" agreement with Lyca in 2019 without reading all the clauses because he trusted the production company. However, the High Court has now observed that Vishal is attempting to back out of his commitments under this agreement.
Ongoing projects
Vishal's professional commitments amid legal troubles
Despite the ongoing legal disputes, Vishal is currently busy with his upcoming film Magudam. He is both directing and acting in this project. The actor has also been involved in other projects under his production banner, Vishal Film Factory.