Overview
- Justice G. Jayachandran stepped aside after noting prior involvement in the suit, and the Registry was told to re-list the case before Justices N. Sathish Kumar and M. Jothiraman.
- Vishal’s appeal and a stay plea target the June 5 decree that directed payment of ₹30.05 crore with interest at 30% from February 16, 2021, until realization.
- The single-judge ruling rejected claims of usury, cited precedent upholding high rates in large commercial transactions, and recorded false averments and incomplete bank disclosure by the actor.
- Vishal denies borrowing ₹21.29 crore, says he only had ₹12 crore dealings with Gopuram Films, and contends he signed Lyca’s 2019 agreement without reading all terms.
- News reports say the court has kept rights to his films with Lyca until repayment and dismissed his attempt to withdraw from the 2019 agreement.