w w w . L a w y e r S e r v i c e s . i n



Indian Overseas Bank, Sriramnagar Branch, Chennai v/s M/s. Aascar Films (P) Limited, Rep. by its Managing Director, Chennai & Others


Company & Directors' Information:- R P G OVERSEAS PRIVATE LIMITED [Active] CIN = U74899DL1989PTC035238

Company & Directors' Information:- P. B. FILMS LIMITED [Active] CIN = U92100WB2007PLC119040

Company & Directors' Information:- M K OVERSEAS PRIVATE LIMITED [Active] CIN = U25209DL1987PTC029976

Company & Directors' Information:- P K OVERSEAS PRIVATE LIMITED [Active] CIN = U74899DL1994PTC059051

Company & Directors' Information:- U & M OVERSEAS PRIVATE LIMITED [Active] CIN = U25200DL2007PTC165258

Company & Directors' Information:- B R K OVERSEAS PRIVATE LIMITED [Active] CIN = U51311DL2002PTC117390

Company & Directors' Information:- A V I OVERSEAS PRIVATE LIMITED [Active] CIN = U74899DL1994PTC059014

Company & Directors' Information:- INDIAN OVERSEAS CORPORATION PRIVATE LIMITED [Active] CIN = U51900DL2010PTC203948

Company & Directors' Information:- J C OVERSEAS LIMITED [Active] CIN = U65993WB1999PLC090116

Company & Directors' Information:- J S OVERSEAS PVT LTD [Active] CIN = U74899DL1994PTC058039

Company & Directors' Information:- H A OVERSEAS PRIVATE LIMITED [Active] CIN = U55101CH1999PTC032886

Company & Directors' Information:- B. R. OVERSEAS LIMITED [Active] CIN = U24111MP1973PLC001244

Company & Directors' Information:- A T OVERSEAS LTD [Active] CIN = U17115PB1995PLC015815

Company & Directors' Information:- A L OVERSEAS PRIVATE LIMITED [Active] CIN = U15300DL2013PTC250975

Company & Directors' Information:- D R OVERSEAS PRIVATE LIMITED [Active] CIN = U15122DL2013PTC253214

Company & Directors' Information:- K C FILMS PRIVATE LIMITED [Active] CIN = U22222UP2014PTC065113

Company & Directors' Information:- F. K. FILMS PRIVATE LIMITED [Active] CIN = U92100MH1974PTC017640

Company & Directors' Information:- M R OVERSEAS PRIVATE LIMITED [Active] CIN = U01111DL1998PTC092787

Company & Directors' Information:- B C C OVERSEAS PRIVATE LIMITED [Active] CIN = U74899DL1994PTC058775

Company & Directors' Information:- R B OVERSEAS PVT LTD [Active] CIN = U24200MH1982PTC028320

Company & Directors' Information:- S L OVERSEAS PRIVATE LIMITED [Active] CIN = U74899DL1999PTC099800

Company & Directors' Information:- B L OVERSEAS PRIVATE LIMITED [Active] CIN = U51109DL2008PTC177039

Company & Directors' Information:- G D R OVERSEAS LIMITED [Strike Off] CIN = U51909TN1994PLC028831

Company & Directors' Information:- S. B. OVERSEAS PVT LTD [Active] CIN = U27101WB1994PTC065565

Company & Directors' Information:- G B OVERSEAS PRIVATE LIMITED [Active] CIN = U51109WB2007PTC116567

Company & Directors' Information:- G B OVERSEAS PRIVATE LIMITED [Active] CIN = U74110DL2007PTC317094

Company & Directors' Information:- AT OVERSEAS INDIA PRIVATE LIMITED [Active] CIN = U74900DL2015PTC276303

Company & Directors' Information:- M D OVERSEAS LIMITED [Active] CIN = U52110DL1980PLC011099

Company & Directors' Information:- R C OVERSEAS PRIVATE LIMITED [Active] CIN = U74899DL1991PTC045610

Company & Directors' Information:- A K FILMS PRIVATE LIMITED [Converted to LLP] CIN = U92100MH1999PTC118635

Company & Directors' Information:- S. R. O. OVERSEAS PRIVATE LIMITED [Active] CIN = U51101DL2014PTC268846

Company & Directors' Information:- K P OVERSEAS LIMITED [Active] CIN = U51311DL2004PLC125574

Company & Directors' Information:- M I OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U74899DL1987PTC026966

Company & Directors' Information:- R F OVERSEAS PRIVATE LIMITED [Active] CIN = U51909PB1997PTC019643

Company & Directors' Information:- M R K OVERSEAS PRIVATE LIMITED [Active] CIN = U74899DL1984PTC018631

Company & Directors' Information:- L & W OVERSEAS PRIVATE LIMITED [Active] CIN = U17221PB2013PTC037343

Company & Directors' Information:- C D OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U51909DL1997PTC085553

Company & Directors' Information:- J D OVERSEAS PRIVATE LIMITED [Active] CIN = U74899DL1990PTC038866

Company & Directors' Information:- C A FILMS PRIVATE LIMITED [Converted to LLP] CIN = U92100MH1999PTC120009

Company & Directors' Information:- A A P OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U51909KA2007PTC042105

Company & Directors' Information:- K G OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U74899DL1993PTC054832

Company & Directors' Information:- OVERSEAS CORPN. PVT LTD [Active] CIN = U67120WB1947PTC014910

Company & Directors' Information:- G R OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U74899DL1992PTC050950

Company & Directors' Information:- A M D OVERSEAS PRIVATE LIMITED. [Active] CIN = U52110DL1980PTC010622

Company & Directors' Information:- M S D OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U74899DL1995PTC069001

Company & Directors' Information:- R K G OVERSEAS PRIVATE LIMITED [Active] CIN = U51229DL1997PTC086734

Company & Directors' Information:- N D OVERSEAS PRIVATE LTD [Converted to LLP] CIN = U51900MH1994PTC076787

Company & Directors' Information:- N W OVERSEAS PRIVATE LIMITED [Active] CIN = U51507HR1999PTC034265

Company & Directors' Information:- R. G. OVERSEAS LIMITED [Strike Off] CIN = U27104TN1981PLC008963

Company & Directors' Information:- K S B FILMS PRIVATE LIMITED [Strike Off] CIN = U92120MP1999PTC013818

Company & Directors' Information:- P M OVERSEAS PRIVATE LIMITED [Active] CIN = U51909DL1991PTC045126

Company & Directors' Information:- J M B OVERSEAS PRIVATE LIMITED [Active] CIN = U51909WB1997PTC085224

Company & Directors' Information:- S C J OVERSEAS PRIVATE LIMITED [Active] CIN = U74899DL1993PTC052913

Company & Directors' Information:- M C S OVERSEAS PVT LTD. [Strike Off] CIN = U51909WB1994PTC063666

Company & Directors' Information:- B. J. OVERSEAS PVT. LTD. [Strike Off] CIN = U24134WB1994PTC063846

Company & Directors' Information:- A H OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U51109UP1977PTC004421

Company & Directors' Information:- R M OVERSEAS LTD [Active] CIN = U51909PB1992PLC011971

Company & Directors' Information:- M B FILMS PVT LTD [Strike Off] CIN = U92111PB1993PTC013321

Company & Directors' Information:- L O P OVERSEAS PRIVATE LIMITED [Active] CIN = U51109UP2001PTC026011

Company & Directors' Information:- R R OVERSEAS LTD [Active] CIN = U51909DL1993PLC054909

Company & Directors' Information:- U D OVERSEAS PRIVATE LIMITED. [Strike Off] CIN = U74999DL2000PTC105257

Company & Directors' Information:- S A OVERSEAS PRIVATE LIMITED [Active] CIN = U51909DL2001PTC112769

Company & Directors' Information:- A H R OVERSEAS PRIVATE LIMITED [Active] CIN = U51909DL2000PTC103069

Company & Directors' Information:- H S OVERSEAS PRIVATE LIMITED [Active] CIN = U51909DL2008PTC182147

Company & Directors' Information:- S G OVERSEAS PRIVATE LIMITED [Active] CIN = U18101DL2000PTC105649

Company & Directors' Information:- A B C FILMS PRIVATE LTD [Active] CIN = U74899DL1987PTC027809

Company & Directors' Information:- K R FILMS PRIVATE LIMITED [Active] CIN = U92110MH1966PTC013500

Company & Directors' Information:- R AND R OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U18101DL1987PTC030154

Company & Directors' Information:- D & D OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U51420OR2009PTC010779

Company & Directors' Information:- A TO Z OVERSEAS PRIVATE LIMITED [Active] CIN = U51909PB2007PTC031342

Company & Directors' Information:- J P OVERSEAS PRIVATE LIMITED [Active] CIN = U74899DL1994PTC059744

Company & Directors' Information:- N V FILMS PRIVATE LIMITED [Strike Off] CIN = U92110MH2002PTC134804

Company & Directors' Information:- R Q OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U51909MH2012PTC230840

Company & Directors' Information:- J M OVERSEAS PRIVATE LIMITED [Active] CIN = U51909WB2008PTC128957

Company & Directors' Information:- U. K. FILMS PRIVATE LIMITED [Strike Off] CIN = U92412WB2010PTC155635

Company & Directors' Information:- D N OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U24119DL1999PTC102409

Company & Directors' Information:- A-3 OVERSEAS PRIVATE LIMITED [Active] CIN = U36900HR2016PTC063750

Company & Directors' Information:- D M OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U74900DL1995PTC072532

Company & Directors' Information:- OVERSEAS (INDIA) LTD [Strike Off] CIN = U51909WB1945PLC012624

Company & Directors' Information:- B N OVERSEAS PVT LTD [Strike Off] CIN = U74899DL1991PTC042764

Company & Directors' Information:- S N R OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U00063KA1996PTC019873

Company & Directors' Information:- M H OVERSEAS LIMITED [Strike Off] CIN = U36911UP2000PLC025118

Company & Directors' Information:- V. R. OVERSEAS PRIVATE LIMITED [Active] CIN = U51109WB2006PTC107676

Company & Directors' Information:- S R FILMS LTD [Strike Off] CIN = U92111PB1981PLC004669

Company & Directors' Information:- FILMS PRIVATE LIMITED. [Active] CIN = U92100MH1954PTC009231

Company & Directors' Information:- I E S (OVERSEAS) PVT LTD [Active] CIN = U31200WB1974PTC029343

Company & Directors' Information:- V B OVERSEAS PRIVATE LIMITED [Active] CIN = U28995DL1996PTC077049

Company & Directors' Information:- J N OVERSEAS PRIVATE LIMITED [Active] CIN = U74899DL1994PTC060359

Company & Directors' Information:- V C OVERSEAS PRIVATE LIMITED [Active] CIN = U51900DL2007PTC166741

Company & Directors' Information:- T M K OVERSEAS LIMITED [Strike Off] CIN = U51223KL1992PLC006416

Company & Directors' Information:- V E OVERSEAS PVT LTD [Strike Off] CIN = U31909DL1981PTC011849

Company & Directors' Information:- S R D OVERSEAS PRIVATE LIMITED [Active] CIN = U52209DL2008PTC178806

Company & Directors' Information:- B R FILMS INDIA PRIVATE LIMITED [Active] CIN = U92110MH1971PTC015384

Company & Directors' Information:- C M D OVERSEAS PVT LTD [Active] CIN = U74899DL1995PTC073068

Company & Directors' Information:- J P FILMS PVT LTD [Strike Off] CIN = U92100WB1984PTC001447

Company & Directors' Information:- M B OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U74899DL1994PTC061016

Company & Directors' Information:- D K FILMS PVT LTD [Strike Off] CIN = U92112DL2001PTC111829

Company & Directors' Information:- B G OVERSEAS PRIVATE LIMITED [Under Process of Striking Off] CIN = U74899DL1990PTC038859

Company & Directors' Information:- V N FILMS PRIVATE LIMITED [Amalgamated] CIN = U92490MH2007PTC284657

Company & Directors' Information:- M N OVERSEAS PRIVATE LIMITED [Active] CIN = U51909WB2004PTC099257

Company & Directors' Information:- R L K OVERSEAS PRIVATE LIMITED [Converted to LLP] CIN = U74899DL1991PTC043115

Company & Directors' Information:- D AND G FILMS PRIVATE LIMITED [Strike Off] CIN = U92111DL2004PTC130329

Company & Directors' Information:- P & R FILMS PRIVATE LIMITED [Active] CIN = U92400DL2011PTC227543

Company & Directors' Information:- J S R OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U52399DL2009PTC190839

Company & Directors' Information:- A M FILMS PRIVATE LIMITED [Strike Off] CIN = U74899DL1992PTC051420

Company & Directors' Information:- K D OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U18101DL1982PTC013342

Company & Directors' Information:- S S B OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U74120WB1997PTC086041

Company & Directors' Information:- C J OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U74899DL1991PTC045545

Company & Directors' Information:- R R FILMS PRIVATE LIMITED [Strike Off] CIN = U92114MH2000PTC127612

Company & Directors' Information:- A AND P OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U74999DL1992PTC048780

Company & Directors' Information:- AT FILMS PRIVATE LIMITED [Strike Off] CIN = U92100MH2008PTC187702

Company & Directors' Information:- G G FILMS PVT LTD. [Strike Off] CIN = U92111WB1989PTC046190

Company & Directors' Information:- B M FILMS (PVT) LTD [Strike Off] CIN = U99999DL1973PTC006717

Company & Directors' Information:- V & D OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U51909DL2009PTC186537

Company & Directors' Information:- P G OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U74999DL1982PTC013479

Company & Directors' Information:- M M FILMS PVT LTD [Strike Off] CIN = U92111CH1970PTC002955

Company & Directors' Information:- S V FILMS PRIVATE LIMITED [Strike Off] CIN = U92110MH1976PTC019358

Company & Directors' Information:- S N OVERSEAS PRIVATE LIMITED [Active] CIN = U74996DL2006PTC150004

Company & Directors' Information:- D. T. OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U36911UP1996PTC020289

Company & Directors' Information:- A R C OVERSEAS PRIVATE LIMITED [Active] CIN = U74899DL1989PTC036343

Company & Directors' Information:- T D OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U52590DL2013PTC257410

Company & Directors' Information:- V K OVERSEAS PVT LTD [Strike Off] CIN = U18209CH1990PTC010214

Company & Directors' Information:- J B OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U17220DL1983PTC016197

Company & Directors' Information:- K H OVERSEAS PVT LTD [Strike Off] CIN = U51496CH1989PTC009704

Company & Directors' Information:- K S O FILMS PVT LTD [Strike Off] CIN = U92114PB1978PTC003808

Company & Directors' Information:- A. A. OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U51909PB2008PTC032010

Company & Directors' Information:- S I AND D FILMS PRIVATE LIMITED [Strike Off] CIN = U92100MH2002PTC137321

Company & Directors' Information:- J S FILMS PRIVATE LIMITED [Active] CIN = U92100MH2005PTC153658

Company & Directors' Information:- A. A. FILMS PRIVATE LIMITED [Active] CIN = U92100MH2008PTC180322

Company & Directors' Information:- M S AND S FILMS PRIVATE LIMITED [Strike Off] CIN = U92110MH2003PTC139849

Company & Directors' Information:- S N FILMS PRIVATE LIMITED [Strike Off] CIN = U92110MH2004PTC146211

Company & Directors' Information:- R M FILMS PRIVATE LIMITED [Strike Off] CIN = U93030MH2012PTC232871

Company & Directors' Information:- M P R FILMS PRIVATE LIMITED [Strike Off] CIN = U22222MH2012PTC235794

Company & Directors' Information:- Z H OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U51909MH2005PTC155819

Company & Directors' Information:- A S FILMS PRIVATE LIMITED [Strike Off] CIN = U74120MH2013PTC239421

Company & Directors' Information:- K V V FILMS PRIVATE LIMITED [Strike Off] CIN = U92412TG2011PTC078056

Company & Directors' Information:- E B OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U51101DL2007PTC157263

Company & Directors' Information:- A P OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U51101DL2014PTC271288

Company & Directors' Information:- S H OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U18101DL2002PTC116516

Company & Directors' Information:- S D S OVERSEAS PRIVATE LIMITED [Active] CIN = U51909DL2013PTC249539

Company & Directors' Information:- N. A. R. T. FILMS PRIVATE LIMITED [Active] CIN = U74999DL2017PTC325681

Company & Directors' Information:- K 3 S FILMS PRIVATE LIMITED [Active] CIN = U92100DL2012PTC246330

Company & Directors' Information:- U C FILMS PRIVATE LIMITED [Active] CIN = U92113DL2005PTC137673

Company & Directors' Information:- M. D. FILMS PRIVATE LIMITED [Active] CIN = U93090DL2016PTC308419

Company & Directors' Information:- L T OVERSEAS PRIVATE LIMITED [Active] CIN = U15122DL2014PTC272665

Company & Directors' Information:- R P OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U74899DL2000PTC108954

Company & Directors' Information:- S V OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U52100DL2013PTC258278

Company & Directors' Information:- T & Y OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U51505HR2012PTC047468

Company & Directors' Information:- G R D OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U80301HR2012PTC046968

Company & Directors' Information:- T & T OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U51900GJ2015PTC083022

Company & Directors' Information:- S K P OVERSEAS PRIVATE LIMITED [Active] CIN = U51909GJ2013PTC076553

Company & Directors' Information:- P R OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U27310GJ2014PTC079227

Company & Directors' Information:- G T C OVERSEAS PVT LTD [Strike Off] CIN = U18101PB1993PTC013743

Company & Directors' Information:- D FILMS PRIVATE LIMITED [Active] CIN = U92490OR2020PTC034576

Company & Directors' Information:- D AND P OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U18109DL1989PTC038623

Company & Directors' Information:- B G S OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U51101PB2007PTC031400

Company & Directors' Information:- T V FILMS PRIVATE LIMITED [Strike Off] CIN = U92110MH1969PTC014215

Company & Directors' Information:- M G FILMS PVT LTD [Strike Off] CIN = U92140MH1973PTC016411

Company & Directors' Information:- I P S OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U63030DL1976PTC008356

Company & Directors' Information:- B M S FILMS PRIVATE LIMITED [Strike Off] CIN = U92120KA1950PTC000647

Company & Directors' Information:- R D FILMS PRIVATE LIMITED [Strike Off] CIN = U32112DL1972PTC006088

Company & Directors' Information:- IN FILMS PRIVATE LIMITED [Strike Off] CIN = U74940DL1988PTC032954

Company & Directors' Information:- INDIA AND OVERSEAS CORPORATION LIMITED [Dissolved] CIN = U99999MH1947PTC005626

    W.P. No. 20632 of 2018 & W.M.P. Nos. 24249 & 24250 of 2018

    Decided On, 09 August 2018

    At, High Court of Judicature at Madras

    By, THE HONOURABLE MR. JUSTICE S. MANIKUMAR & THE HONOURABLE MR. JUSTICE SUBRAMONIUM PRASAD

    For the Petitioner: F.B. Benjamin George, Advocate. For the Respondents: ------------



Judgment Text

(Prayer: Writ petition filed under Article 226 of the Constitution of India, for a writ of certiorari, calling for the records pertaining to the order dt.07.08.2018 made in I.A. No.530 of 2018 in M.A. 43 of 2018 on the file of DRAT, quash the same and consequently allow the application granting the reliefs as prayed for in IA No.530 of 2018 in MA 43 of 2018 on the file of Debts Recovery Appellate Tribunal.)

S. Manikumar, J.

1. Instant writ petition has been filed under Article 226 of the Constitution of India, for a writ of certiorari, calling for the records pertaining to the order dt.07.08.2018 made in I.A. No.530 of 2018 in M.A. No.43 of 2018 on the file of DRAT, quash the same and consequently, allow the application, granting the reliefs, as prayed for in IA No.530 of 2018 in M.A. No.43 of 2018 on the file of Debts Recovery Appellate Tribunal, Chennai.

2. Short facts leading to the filing of the writ petition are that the first respondent M/s.Aascar Films (P) Limited, has availed two loans to the tune of Rs.60,00,000/- for production of movie titled "I" both in Tamil and Hindi and Manoharudu in Telugu, from Cathedral Branch of Indian Overseas Bank. Loan was availed on 22.09.2012. The said loan amount was repayable in one single payment within 18 months from the date of availment or from the date of release, whichever is earlier.

3. The first respondent also availed cash credit limit of Rs.10,00,00,000/- towards working capital limit and term loan of Rs.30,00,00,000/- to meet the production cost of the movie titled 'Boologam' from Sriram Nagar branch of the said bank. The term loan of Rs.30,00,00,000/- was to be repayable in one single bullet payment within 18 months from the date of availment i.e. 31.12.2011 or date of release whichever is earlier.

4. Bank has further contended that as regards the term loans in question, the cinematography movies under production are the prime securities. The lien over the negatives of the said movies (known as negative rights in the business circle) titled " I " in Tamil and Hindi and "Manoharudu" in Telugu and also the movie titled Boologam are with the bank. The first respondent assigned all the copyrights of the said movies under production in favour of the petitioner. By entering into a tri-partite agreement with the petitioner and Reliance Media Works Ltd/5th respondent herein, the first respondent agreed and undertook to entrust the negatives, raw print and the prints of the movies under production for processing and other related works to the said respondent, and the said laboratory agreed and undertook to hold in is possession and control the negatives, etc. all rights of screening for public viewing either domestic or overseas etc. vest with the bank.

5. The loans are secured by mortgagors four immovable properties belonging to the first respondent and its guarantors and the movies referred to above are the prime securities to the loan and the immovable properties are collateral securities.

6. Bank has further contended that in breach of the agreement and without paying the dues to the bank, the first respondent fraudulently released the movie titled " I " in Tamil and Hindi and Manoharudu in Telugu for public viewing on 14.01.2015. The first respondent also sold the satellite rights, audio rights, overseas rights, Hindu and Telugu version rights etc. and the amounts realised were not credited to the loan account. The amounts paid by the distributors had been siphoned by the 1st respondent. Thus the 1st respondent diluted the prime asset given as security for the Term loan of Rs.60,00,00,000/- availed from petitioner's Cathedral Road branch. Therefore, bank has invoked the provisions of RDBI Act and filed O.A. No.235 of 2015 before DRT-II, Chennai praying for recovery of Rs.59,84,99,048/- as on 13.01.2015 and also prayed for an interim order of injunction restraining the 1st respondent and for other reliefs.

7. In the said Original Application, bank has filed three interlocutory applications viz. (a) I.A. No.402 of 2017 under Section 19(3-A)(c) of the Recovery of Debts and Bankruptcy Act 1993, to direct the respondents 1 to 4 and 6 therein, to disclose the details of their assets and particulars of other properties owned by them; (b) I.A.No.403 of 2017 under Section19(13-A) and (B) of the Recovery of Debts and Bankruptcy Act 1993, to issue notice to the respondents to furnish security to the tune of Rs.89.06 crore within the time as may be fixed by this Tribunal, failing which to order attachment before judgment of the movie titled 'Viswaroopam 2' with all its "QUBE" rights, rights over the negative, audio/video rights, satellite rights, etc. pending disposal of the above Original Application and (c) I.A.No.404 of 2017 under Section 19(25) of the Recovery of Debts and Bankruptcy Act 1993, to appoint a Receiver preferably a Retired High Court Judge of the Hon'ble High Court of Madras to take control of all rights over the movie titled 'Viswaroopam 2' with all its "QUBE" rights, over the negative, audio/video rights, satellite rights, etc. pending disposal of O.A. No.235 of 2015.

8. After hearing the learned counsel for the parties and upon perusing the materials available on record, on 26.04.2018, Debts Recovery Tribunal - II, Chennai disposed of I.A. No.402 of 2017 with a direction to the respondents 1 to 4 to disclose the title of their assets and particulars of other properties owned by them before the Tribunal within a month from the date of the order and dismissed I.A. Nos.403 and 404 of 2017.

9. As against the dismissal of I.A. Nos.403 and 404 of 2017, the petitioner/bank has filed appeals in M.A. No.43 and 42 of 2018, respectively, on the file of the Debts Recovery Appellate Tribunal, Chennai. In M.A. No.43 of 2018, petitioner has filed I.A. No.530 of 2018 to grant an order of ad-interim injunction restraining the respondents 1 to 5 or their agents or any one claiming under them from releasing the movie titled "Viswaroopam - 2" in any language in any part of the world for public viewing pending disposal of the above appeal.

10. Upon hearing both parties and perusing the materials available on record, DRAT, Chennai vide order dated 07.08.2018 disposed of I.A. No.530 in M.A. No.43 of 2018, directing the respondents 1 and 2 herein to furnish bank account details to Debts Recovery Tribunal, Chennai, in which, collection of Tamil and Telugu version of Viswaroopam-2 will be received and further directed the respondents 1 and 2 to produce a workout sheet, calculating the profit share of respondents 1 and 2 from the collection so far, Presiding Officer may try to clear the old dues of bank also but after giving opportunity of hearing to both the parties. The order passed by the DRAT, Chennai, is hereunder:-

"10. On careful perusal of pleadings and submissions of counsel of parties and record, it becomes clear that Viswaroopam - 2 has been produced with the financial assistance of R6. R1 and R2 are impleaders for the joint stake in the film investment as well as in profits in the year 2015, R1 and R2 obtained some loan/financial assistance from appellant bank for production of movies "I". This movie though earned a respectful amount and profits, R1 and R2 have failed to keep up the promises for repayment of money to appellant bank. Almost same thing happened at the time of production of "Boologam". The stakes were somewhat less in that movie. The appellant bank has succeeded to prove the malafide on the part of R1 and R2 those are having prima facie rights to exhibition etc., so far as, Tamil and Telugu version of Viswaroopam-2.

11. At the same time, this is also clear that default committed by R1 and R2 in respect of loan taken for production of "I" and "Boologam", OA is pending and bank was interested in security of about Rs.90 crores to be furnished. The record reveals that R1 and R2 had mortgaged their immovable properties situated at Salem, Vellore, Ashok Nagar and Alwarpet. But ultimately it is nothing but the matter of intention of the parties. If R1 and R2 have a clear intention of repayment of dues then there should be no hitch and hassle in making a joint commitment for repayment of bank dues.

12. During the course of arguments it was transpired that the appellant bank should/can proceed for sale of aforesaid properties in auction in regard to recovery of old dues. In so far as release of Viswaroopam - 2 is concerned the stay of release of Tamil and Telugu version will not solve the problem. Such type of order will have more side effects than the reliefs. The law of injunction, prima facie says about the ingredients of prima facie case, balance of convenience and irreparable loss. In this case, value of irreparable loss fails because money is the compensation. It may be a security of Rs.90 crores or a deposit of Rs.100 or Rs.150 crores. Accordingly, there appeared to be no ground to pass against any interim injunction against release of Viswaroopam - 2 in Tamil and Telugu version. However, having a comparative view of attitudes and intentions of appellant bank and R1 and R2, remaining respondents and impleaders a balance has to be maintained so that tendency of non-repayment of money of bank dues is checked and controlled.

13. Accordingly, R1 and R2 are directed in following terms:

(i) They will furnish the bank account details to DRT in which collection of Tamil and Telugu version of Viswaroopam - 2 will be received.

(ii) Further, they will produce a workout sheet calculating the profits share of R1 and R2 from this collection so far Presiding Officer may try to clear the old dues of appellant bank also but after giving opportunity of hearing to both the parties.

14. Accordingly, IA No.530/2018 is disposed of in terms of above.

List on 26.09.2018 for consideration of other IAs.

11. Being aggrieved by the order of the DRAT, Chennai dated 07.08.2018 made in I.A. No.530 of 2018 in M.A. No.43 of 2018, instant writ petition has been filed contending inter alia that the respondents did not comply with any of the conditional orders passed by various courts including this court and Apex court; that the Tribunal failed to note that the proceeds from the release of the movie comes from the theatres. In the normal course, the theater owners either outrightly purchases the right to release the movie or acquire the rights by paying a substantial advance and the balance on revenue sharing basis. In any case, the producer gets substantial amount even before releasing the movie and only in the said circumstances, the 1st respondent undertook to make the entire payment by way of single bullet payment before the release of the movie, get no objection and then to release the movies; that the Tribunal failed to note that the 6th respondent/JM Financial Asset Reconstruction Company (P) Ltd, who had advanced for the production of the movie supported the case of the bank and that the Tribunal ought to have either appointed a Receiver to release the movie or directed the respondents 1 and 2 to make substantial deposit before permitting them to release the movie.

12. Heard Mr.F.B.Benjamin George, learned counsel for the petitioner, perused the impugned order and the materials available on record.

13. I.A. No.403 of 2017 in O.A. No.235 of 2017 on the file of DRT-II, Chennai, has been filed, to issue notice to the respondents 1 to 5 to furnish security to the tune of Rs.89.06 Crores within the time as may be fixed by the Tribunal failing which order of attachment before judgment of the movie titled Viswaroopam-2 with all its Qube rights, rights over the negative, audio/video rights, satellite rights etc. DRT-II, Chennai on 26.04.2018, dismissed the said IA.

14. Aggrieved by the order of dismissal, bank has filed M.A. No.42 of 2018, to set aside the order dated 26.04.2018 made in I.A. No.403 of 2017 in O.A. No.235 of 205 on the file of DRT-II, Chennai and allow the same and to issue notice to the respondents 1 to 5 to furnish security to the tune of Rs.89.06 Crores within the time as may be fixed by the Tribunal failing which order of attachment before judgment of the movie titled Viswaroopam-2 with all its Qube rights, rights over the negative, audio/video rights, satellite rights etc. in the hands of the respondents or any one claiming under them.

15. I.A. No.404 of 2017 in O.A. No.235 of 2018 on the file of DRT-II, Chennai has been filed for appointment of a receiver preferably a retired Hon'ble Judge from Madras High Court, to take control of all rights over the movie titled Viswaroopam - 2 with all its Qube rights, rights over the negative, audio/video, rights, satellite rights etc. On 26.04.2018, DRT-II, Chennai has dismissed the said IA.

16. As against the said order of dismissal, bank has filed appeal in M.A. No.43 of 2018, to set aside the order dated 26.04.2018 made in I.A. No.404 of 2017 in O.A. No.235 of 2015 on the file of DRT-II, Chennai and to appoint a receiver preferably a retired Hon'ble Judge from Madras High Court, to take control of all rights over the movie titled Viswaroopam - 2 with all its Qube rights, rights over the negative, audio/video, rights, satellite rights etc., release the same and deposit the proceeds to the credit of the above appeal.

17. In M.A. No.43 of 2018, the bank has filed I.A. No.530 of 2018 for an order of ad-interim injunction restraining the respondents 1 to 5 or their agents or anyone claiming under them from releasing the movie titled Viswaroopam-2 in any language in any part of the world for public viewing pending of the appeal. M.A. No.43 of 2018 has been preferred by bank against part of the order dated 26.04.2018, by which DRT has declined to direct the respondents to furnish security to the tune of Rs.89.06 Crores so that in the event of failure of furnishing the security order of attachment before judgment of movie titled Viswaroopam-2 with all its rights.

18. In the present writ petition petitioner has prayed the following reliefs:

i) to grant an order of interim injunction restraining the respondents 1 to 5 and 7 & 8 or anyone claiming under them from releasing the Tamil and Telugu version of the movie titled "Viswaroopam-2" for public viewing in theatres, pending disposal of the writ petition;

ii) to appoint a Court Receiver to release the Tamil and Telugu version of the movie titled "Viswaroopam-2" for public viewing in theaters with conditions as may be prescribed by the court pending disposal of the writ petition; and

iii) writ of certiorari to call for the records pertaining to the order dated 07.08.2018 made in I.A. No.530 of 2018 in M.A. No.43 of 2018 on the file of DRAT, Chennai, quash the same and consequently allow the application granting the relies as prayed for in I.A. No.530 of 2018 in M.A. No.43 of 2018 on the file of DRAT, Chennai.

19. In M.A. No.43 of 2018, bank has prayed for a direction to appo

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int a Receiver, preferably a retired High Court Judge, to take control of all rights over the movie titled Viswaroopam - 2 with all its Qube rights, rights over the negative, audio/video, rights, satellite rights etc., release the same and deposit the proceeds to the credit of the above appeal, whereas in I.A. No.530 of 2018 in M.A. No.43 of 2018, bank has prayed for an order of interim injunction restraining the respondents 1 to 5 and 7 and 8 or anyone claiming under them from releasing the Tamil and Telugu version of the movie titled "Viswaroopam-2" for public viewing in theaters. Courts/Tribunals have power to grant orders incidental or ancillary to the main prayer sought for in the original proceedings or appeals, as the case may be. 20. Word "interim", according to Oxford Dictionary means, "temporary or provisional arrangement". In Black's Dictionary, it is defined as, "in the meantime; meanwhile; temporary; between". Interim relief can be granted in aid of, incidental and as an ancillary relief, to the main relief. Broad guidelines for granting such relief are (i) prima facie case, (ii) balance of convenience, and (iii) irreparable hardship. 21. Relief prayed for in the appeal M.A. No.43/2017 is "to appoint a Receiver, and the interim relief sought for in I.A. No.530/2018 in M.A. No.43/2017, is for an injunction not to release the movie. Interim prayer is not in aid of, incidental or ancillary, to the main relief. But they are contrary and diametrically opposed to each other. 22. The writ petition is dismissed. However, there shall be no order as to cost. Consequently, the connected miscellaneous petitions are dismissed.
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