Interim stay on 'Boologam' release
Aascar Ravichandran produced Boologam has been awarded an interim ban. Jayam Ravi and Trisha played central roles in t...
An interim stay on the release “Boologam” has been issued, as the producer of the movie Aascar Ravichandran failed to repay the loan debt he bought for the production expense of Boologam.
The Indian Overseas Bank, Sriram Nagar branch filed a petition in The Debt Recovery Tribunal (DRT), Chennai against the producer Aascar Films and four others, seeking to restrain them from selling the control of the negatives, duped negatives, fine grain print, sound tracks, positive prints etc without the written consent or permission in writing from the bank.
In another interim application, the bank also sought to restrain them from selling, distributing, assigning or parting with the rights of the film in any way to screen or exhibit the film in theatres, CDs or television channels.
On hearing the petition, DRT has issued an interim ban on Boologam and also sent a notice to Aascar Ravichandran. DRT-II, Chennai granted an interim stay on the release of Boologam till April 16th.
Now, Aascar Ravichandran cannot initiate the business of Boologam without Indian Overseas Bank’s consent. For over a year,
Aascar Films has been unable to release Boologam, a boxing flick starring Jayam Ravi and Trisha, reportedly due to financial constraints. Directed by Kalyan Krishna, Jayam Ravi's Booloham has cleared its censors with a clean U certificate and awaiting a release date from past a year. The film was scheduled for release on 2014 Pongal, but was repeatedly deferred.
Now, a written consent from IOB is required to release Boologam.