According to reports Ashtvinayak Films, the producers of BOL BACHCHAN, have been declared as defaulters by the Bombay High Court over the non-payment of dues to a well-known film financier Raju Shah.
It is reported that after the cheques issued by the Corporate production house bounced, the financier had moved the High Court for relief. Shah has reportedly claimed dues of Rs.41 crores.
The Court has also directed the company to come clean about its business dealings and various rights related to its latest film BOL BACHCHAN, scheduled for release on 6th July 2012.
The film is directed by Rohit Shetty and stars Ajay Devgn, Abhishek Bachchan (in double role), Asin, and Prachi Desai. Even Big B has performed a song and dance number in the film. BOL BACHCHAN has been acquired by Fox Star Studios for a whopping price of 72 crores according to trade buzz.
The sources suggest that the release of the film may not be affected at this juncture since on record the film has already been 'delivered' by the processing lab Reliance MediaWorks Ltd.
It is a common film industry practice whereby an aggrieved creditor may approach the concerned film lab to block the delivery of the film until his dues are paid.
Hectic negotiations are on to settle the matter between the financier and Ashtvinayak Films and work out a compromise formula.