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Akshay's '8X10' release in trouble

The release of "8X10 Tasveer", an Akshay Kumar-starrer supernatural thriller, is in trouble over a financial clash between the movie's co-producers, Percept Picture Company and T-Series.

On March 4, 2009, the co-producers signed an agreement according to which T-Series would walk out of the film and take back the money (50 percent of the total agreed cost it had put in the film), if the money was paid by Percept on time through post-dated cheques, said a statement by T-Series.

The walkout decision by T-Series was a "business decision by both the parties", said Vinod Bhanushali, T-Series president, marketing media publishing (TV).

While Percept's first payment of Rs.50 lakh was received by T-Series, the second and final cheque of around Rs.6.67 crore was dishonoured by the bank, the statement said.

"They were supposed to pay us as per a contract signed by both, and since the cheque for the final amount has bounced, we are legally again the co-producers of the film," Bhanushali told IANS over phone from Mumbai.

"It's a case of cheating. We have the right to move court over the cheque bounce," he said.

"We are sure to get a stay over the release of the film until the matter is sorted out." The film is scheduled for release April 3.

Directed by Nagesh Kukunoor, the thriller revolves around Jai (Akshay) who has a supernatural gift to see into the past by touching the 8X10 sized photograph of dead people.

Besides Akshay, it also stars Ayesha Takia, Vinod Khanna and Sharmila Tagore.

Navin Shah, CEO, Percept Picture Company, shrugged off the matter as a "goof-up" by the bank.

"The matter has been sorted out. There was some miscommunication from the bank's end and hence there was a hiccup. The movie is releasing on time, April 3," he said.

Bahnushali, however, disagreed: "The matter has not been resolved. The deal is they have to pay us and we have not received it yet, so we are still holding our ground."

Apart from taking legal action, T-Series is seeking to stop the delivery of film prints and negatives until further notice.

They have also cautioned trade circles not to deal with any rights in the film "8X10" or play any paid or free content (both promos and songs) without prior written consent of Super Cassettes Industries Limited (T-Series). Those who violate this shall be liable for damages and legal action.

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PPC defaults the payment of 6.67cr to T-Series for Tasveer

Super Cassettes Industries Limited (T-SERIES) and Percept Picture Limited had entered into a Co-Production Agreement on 28-Aug-2008 wherein they were to jointly produce the film "Tasveer" now renamed to "8X10". T-Series was not only the joint owner of the film but all music rights were to be exploited by T-SERIES only.

However, on 4-Mar-2009 T-Series and Percept Picture entered into another agreement wherein T-Series would walk out of the film and take back the money (50% of total agreed cost of the film) if the money was paid in time through the post dated cheques. While percepts honoured the first payment of Rs. 50,00,000/- the second and final amount of Rs.6.67 crores which was given by way of post dated cheque was dishonoured today.

And now, due to failure on part of the Percept Picture to honour the second installment, since their cheque was dishonoured by their Bank, as agreed by Percept Picture in writing, T-SERIES now enters back as co-producers of the said film and have written to the laboratory to stop the delivery of film prints/ negatives until further notice in writing. T-Series shall also take all necessary legal action to protect its interest and rights.

While on the other hand all persons in public and particularly in the Film & Entertainment Industry and trade have been cautioned not to deal with any rights in the film "8X10" without prior written consent of Super Cassettes Industries Limited. Failing which if they do so, they shall be liable for damages and legal action at the option of Super Cassettes Industries (T-Series).

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Breaking News: T-Series files a FIR against Ram Gopal Varma

It seems that controversy and Ram Gopal Varma simply cannot live without each other. Director Ram Gopal Varma is in the news again. This time, it's the music giant T-Series which has filed a case against him.

According to our confirmed sources, the music giant T-Series have filed an FIR (First Information Report) against Ram Gopal Varma in the Noida Police Station (Sector 20), New Delhi. The charges levied on him included fraud, conspiracy, extortion, cheating and criminal breach of trust, under IPC Sections 385, 409, 420, 421 and 422.

Ramu has been facing a rough patch for quite sometime now, both on the professional and personal front. With nothing going right in his way, one simply wonders what will happen to the fate of his forthcoming Sarkar 2!

Bollywood Hungama

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