Now, RGV in Legal trouble
Just when Phoonk was all set to change Ram Gopal Varma’s fortune, he seemed to have fallen prey to another trouble. Film financier Bharat Shah has filed a complaint with the Indian Motion Pictures Producers’ Association (IMPPA), against Varma demanding Rs 25 crore from him in lieu of financing his earlier films.
Shah claims that he had invested money in Varma Corporation Limited (Ramu’s production company) 10 years ago, wherein they produced films like Satya, Mast and Jungle. Shah’s contention is that since Varma has not returned Shah’s money and yet continues to do business with other financiers in the industry, Varma should cough up Rs 25 crore.
Shah also informed IMPPA that Varma had assured him of a stake in the company. In his letter to IMPPA, Shah has stated that Varma informed Shah that his company was soon to be listed and had assured him of shares worth Rs 10 crore @ Rs 10 per equity share.
While Anil Nagrath, general secretary of IMPPA confirmed the news saying, “We have received the complaint from Bharat Shah and will initiate the necessary action soon,” Ramu said “I don’t know about it. It must be a misunderstanding.”