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Elegation on I Movie Overseas Rights
By: Tupaki Desk | 17 Dec 2014 12:14 PM GMT
January 9th is the mega date for Shankar’s latest big ticket entertainer “I” to hit theatres. However, there seems to be a tiff developing regarding Overseas Distribution of the movie as two parties are claiming ownership of the rights. While producer Aascar Films claimed that they have rights themselves, Mumbai based B4U Films and Hyperbees have claimed that rights belong to them.
In fact, B4u and Hyperbees made an agreement to buy I rights f0r 10 crores and paid 5 cr in advance. As they are supposed to pay balance 5 crores by December 12, and failed to do so, Aascar Films has dissolved agreemtn now. But in reality, Aascar received the payment deferred by two days as bank transaction made the delay. Citing that, Hyperbees has now approached court to resolve the issue.
In fact, B4u and Hyperbees made an agreement to buy I rights f0r 10 crores and paid 5 cr in advance. As they are supposed to pay balance 5 crores by December 12, and failed to do so, Aascar Films has dissolved agreemtn now. But in reality, Aascar received the payment deferred by two days as bank transaction made the delay. Citing that, Hyperbees has now approached court to resolve the issue.
