Kollywood hero Vishal is also popular in Tollywood. He has a special connection with the Telugu states. Along with movies, there are always news about Vishal with other affairs and controversies. According to the latest report, the Madras High Court 5 restrained actor and film producer Vishal Krishna Reddy from releasing either in cinemas or on OTT platforms any of the movies financed or produced by him unless he deposits in court Rs 15 crore as directed by a single judge on 8th March 2022.
The court ordered Vishal to pay a fixed deposit of Rs 15 crore to Lyca, Tamil Nadu’s biggest production house, within three weeks. Until its disposal, he should not release any of his movies either in cinemas or on OTT platform.
A few years ago, Vishal took a loan of Rs 21 crore from a financier named Anbu Chelian for his production company Film Factory. But this loan was paid by Lyca production company to the said financier. In return for this, Lyca made an agreement with Vishal. They made a deal as if they own the distribution rights of Vishal’s films until they pay their money. But breaking this agreement, Vishal released his film Samyandudu. With this, Lyca approached the court. Vishal was ordered to pay a fixed deposit of 15 crores to Lyca. But Vishal did not pay. A recent inquiry was held on this in the High Court. Vishal said that he has recently suffered a loss of 18 crores. That’s why he said in the court that he could not pay.
Finally Madras High Court ordered Vishal to deposit Rs15 crore as a permanent deposit in the bank in the name of the Chief Registrar of the High Court and to submit the property details.