Madras High Court rejects actor Vishal’s plea for extension in Lyca Productions loan case – Reports

The Madras High Court, in a loan case involving Lyca Productions, refused to grant actor Vishal any extra time, resulting in a major loss in this trial. Vishal had sought a six-week extension to deposit Rs 10 crore as previously directed by a division bench. The judges dismissed the petition, remarking that more than enough time had already been given and the court cannot grant an extension. The latest ruling demonstrates the severe stance some courts are taking regarding financing interim orders.

As reported by News18, the dispute stems from a previous order in which a single judge directed Vishal’s side to repay Rs 21.29 crore to Lyca Productions with 30 percent interest.

Challenging that ruling, the actor appealed to a division bench. When the bench granted an interim stay on the single judge’s order, it attached a major condition: Vishal had to deposit Rs 10 crore with the court. The payment was required as a prerequisite for receiving the interim relief.

During the hearing before Justices C.V. Karthikeyan and K. Kumaresh Babu, senior counsel A.K. Sriram, appearing for Vishal, submitted that the actor’s bank accounts were frozen, making it difficult to mobilise such a large amount within the stipulated time.

He requested six more weeks to arrange the funds and comply with the court’s direction. The plea highlighted the practical hurdles the actor’s side faced in raising the money under the current financial restrictions.

The bench, however, refused to accept the explanation. Pointing out that nearly eight weeks had passed since the original direction and that the extension petition itself took time to be listed, the judges said no further indulgence could be shown. With the dismissal of the extension plea, the legal pressure increases on Vishal to deposit the amount if he wants to continue pursuing the appeal and retain the interim relief in the high-value dispute with Lyca Productions.