Ashtavinayak, the producers of Bol Bachchan and super-duper hit movies like Golmaal and Jab We Met were in a difficult time. Raju Shah, the financer dragged them in a court of law after they failed to clear his dues of Rs.41 crore and several cheques were dishonoured.
On Friday the Bombay High Court pronounced the company a ‘defaulter,’ and directed Ashtavinayak to disclose all its agreements signed for Bol Bachchan. According to the court order, Shah is also entitled to Ashtavinayak’s earnings from Bol Bachchan and its various rights, since their cheques to him have bounced. Besides, the company has been barred from selling its shares of five subsidiary companies, till Shah’s dues are cleared. If that was not enough, Shah is now moving court that Ashtavinayak’s other assets including properties and film copyrights should be attached.
Confirming the developments, advocate Rajeev Narulawho argued on behalf of Shah told, “Bombay High Court has passed the order, it is dated June 26, 2012.” What if Ashtavinayak does not comply? Said Rajeev, “They have no choice.”
After the Court gave the verdict in his favour, Shah’s son, Yash said: “We fail to understand how can a company which earned so much with the Golmaal franchise and Jab We Met not clear its dues.” Shah considers the court ruling as a moral victory. “I am relieved, justice has been done,” he said.
Rupen Amlani, a senior member from board of Ashtavinayak’s directors, refused to comment on the issue. However a spokesperson of the company said: “No amount is due and payable to Raju Shah. That is why the court has not stopped the movie (Bol Bachchan).”