Tue Nov 12 14:10:17 UTC 2024: ## Kanguva Release Uncertain as Producer Faces ₹20 Crore Deadline
**Chennai, November 12, 2024:** The highly anticipated release of the Suriya-starrer “Kanguva” hangs in the balance after the Madras High Court ordered its producer, K.E. Gnanavelraja, to deposit ₹20 crore by Wednesday midnight. This comes after the court modified its earlier order allowing the film’s release on a deposit of just ₹1 crore.
The court’s decision stems from a long-standing dispute dating back to 2011 when Mr. Gnanavelraja partnered with businessman Arjunlal Sunderdas, who later became insolvent. The producer was ordered to repay ₹10.35 crore with interest to the Official Assignee, who was tasked with recovering assets for Sunderdas’ creditors.
Despite previous attempts to recover the dues, the Official Assignee has only managed to collect ₹3.93 crore, including ₹1 crore from the release of “Thangalaan”. The court expressed dissatisfaction with the producer’s attempts to dissociate himself from his production companies and expressed concern for the creditors who have been waiting for their dues for nearly 10 years.
The court has made it clear that the release of “Kanguva” is dependent on the producer meeting the ₹20 crore deadline. The film, which also features Bollywood actors Bobby Deol and Disha Patani, was initially scheduled to release on Thursday.
First Piper 