Tamil actor and producer Vishal has received a major setback from the Madras High Court regarding a loan payment. He has been involved in a long-standing legal dispute with Lyca Productions. He had earlier filed a petition seeking more time to repay the money he owed to Lyca Productions.
However, the single judge dismissed his plea. Challenging this order, Vishal approached a two-judge bench, which granted an interim stay on the earlier decision but directed him to immediately deposit ₹10 crore.
Following this, Vishal filed yet another petition requesting six weeks to deposit the ₹10 crore. But the High Court bench expressed its unwillingness to grant further relief and dismissed his request. As a result, Vishal has now been directed to pay the amount without any delay.
Vishal – Lyca Productions: Long Standing Legal Issue
According to reports, about three years ago, Vishal had taken a loan of ₹21.29 crore from Gopuram Films. Later, Lyca Productions stepped in and agreed to clear the loan amount on his behalf. In return, an agreement was signed granting Lyca the distribution rights of Vishal’s future films. However, when Vishal allegedly failed to honor the agreement, Lyca approached the Madras High Court.
The court then ordered that the outstanding amount be repaid with 30 percent interest. Since the payment was not made, Lyca repeatedly sought court intervention to implement the judgment. There were also requests made to ensure that Vishal’s remuneration from his current project be deposited in court.
During the hearings, Vishal’s counsel informed the court that he was facing serious financial difficulties. The case came up for hearing multiple times and was eventually transferred to another bench.
In the latest development, the court has firmly ruled that Vishal must pay the amount within the stipulated time under any circumstances. This decision has now gone viral on social media and sparked widespread discussion in the film industry.
