New Delhi, March 27 (IANS) The release of '8X10 Tasveer', an Akshay Kumar-starrer supernatural thriller, is in trouble over a financial clash between the movie's co-producers, Percept Picture Company and T-Series.
On March 4, 2009, the co-producers signed an agreement according to which T-Series would walk out of the film and take back the money (50 percent of the total agreed cost it had put in the film), if the money was paid by Percept on time through post-dated cheques, said a statement by T-Series.
The walkout decision by T-Series was a 'business decision by both the parties', said Vinod Bhanushali, T-Series president, marketing media publishing (TV).
While Percept's first payment of Rs.50 lakh was received by T-Series, the second and final cheque of around Rs.6.67 crore was dishonoured by the bank, the statement said.
'They were supposed to pay us as per a contract signed by both, and since the cheque for the final amount has bounced, we are legally again the co-producers of the film,' Bhanushali told IANS over phone from Mumbai.
'It's a case of cheating. We have the right to move court over the cheque bounce,' he said.
'We are sure to get a stay over the release of the film until the matter is sorted out.' The film is scheduled for release April 3.
Directed by Nagesh Kukunoor, the thriller revolves around Jai (Akshay) who has a supernatural gift to see into the past by touching the 8X10 sized photograph of dead people.
Navin Shah, CEO, Percept Picture Company, shrugged off the matter as a 'goof-up' by the bank.
'The matter has been sorted out. There was some miscommunication from the bank's end and hence there was a hiccup. The movie is releasing on time, April 3,' he said.
Bahnushali, however, disagreed: 'The matter has not been resolved. The deal is they have to pay us and we have not received it yet, so we are still holding our ground.'
Apart from taking legal action, T-Series is seeking to stop the delivery of film prints and negatives until further notice.
They have also cautioned trade circles not to deal with any rights in the film '8X10' or play any paid or free content (both promos and songs) without prior written consent of Super Cassettes Industries Limited (T-Series). Those who violate this shall be liable for damages and legal action.ALSO READ: Akshay Kumar reveals delayed release date for Housefull 5, promises a VFX spectacle