New Delhi, Sep 9 (IANS) The Salman Khan-starrer 'Wanted' will be released Sep 18 after the Supreme Court granted reprieve to Bollywood producer Boney Kapoor in a monetary dispute.
A bench of Justice B.N. Agrawal, Justice G.S. Singhvi and Justice H.L. Dattu allowed release of the film after Kapoor offered to deposit Rs.20 million with the Bombay High Court as surety.
Senior counsel Mukul Rohtagi told the bench that L.M.B. Holdings Limited, a B4U group company, had in June 2007 given Kapoor an advance of Rs.100 million following a tentative agreement to produce films in a joint venture.
The initial understanding was that Kapoor would return the money within 90 days if the two sides fail to work out the details of the agreement for the joint venture, Rohtagi told the bench.
He added that though the two parties failed to arrive at any firm agreement, his client proceeded on to produce 'Wanted', which is now slated for release Sep 18.
He further explained to the court that despite his client failing to return the money within 90 days, the private firm demanded the money back only after the lapse of one year and three months, claiming that in case the money is not returned, he would have rights over at least five films, including 'Wanted', produced by Kapoor.
He said as Kapoor challenged the firm's contention, the Bombay High Court through an interim order has asked his client to deposit Rs.100 million with the court's registry as a security deposit.
Contending that the high court order was illegal, Rohtagi offered to deposit Rs.20 million with the high court's registry in lieu of permission to release one film, which has already been made.