New Delhi, May 29 (). The Central Bureau of Investigation (CBI) has registered an FIR against Bollywood producer Bunty Walia and others in a loan fraud case. An official gave this information on Sunday.
IDBI Bank has alleged that the loan was taken for the Sanjay Dutt starrer film Lamha.
The FIR has been registered after CBI received a complaint from IDBI Bank. Bunty Walia and Steny Saldanha have been named as accused in the FIR.
The CBI said that G.S. The FIR has been registered in connection with misappropriation of funds and criminal breach of trust by Entertainment Private Limited (GSEPI), and its directors and promoters.
Foreign Currency Loan (FCL) of $2.35 million (then equivalent to Rs 1,000 lakh) and Rupee Term Loan (RTL) of Rs 495 lakh in June 2008 under the Film Finance Scheme for the production of the Hindi film Lamha directed by GSEPL was approved.
The film stars Rahul Dholakia as the star cast along with lead actors Sanjay Dutt, Bipasha Basu and Kunal Kapoor.
As per the original schedule, the film was to be released in May 2009. The film’s release was delayed since March 2009 due to a dispute between the promoters and the exhibitors.
Consequently, the account turned NPA on 30th September, 2009.
Since GSEPL failed to release Lamhaa, IDBI Bank has asked PVR Pictures Pvt. Ltd. (PVR), as the sole distributor for the worldwide release of the film, subject to execution of a suitable tripartite agreement between GSEPL, PVR and IDBI Bank, as well as Rs.800 lakhs to be met by PVR as required There is also a commitment to invest an amount of Rs.
SGK
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