Aascar V Ravichandran, the man who produced big-budget Tamil movies like Anniyan, Dasavathaaram, Velayudham, Vaaranam Aayiram, and I, is in big trouble after he failed to repay a loan to the Indian Overseas Bank in Chennai.
The producer had taken a loan worth Rs 96.75 crore to finance his mega project I. The Rs 120 crore film was directed by Shankar. Reportedly, Ravichandran is yet to repay the loan and has already crossed the deadline for the same. Now, the bank has decided to put his Rs 35 crore worth property in Coimbatore on auction for the repayment of the loan amount.
Ravichandran was also financing other films during the production of I, including the upcoming mega budget Kamal Haasan starrer Vishwaroopam 2. I was released on 14 January 2015, to mixed reviews from critics. However, the Vikram-Amy Jackson starrer managed to collect good money and was a hit at the box office.
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-- Sree Prasad Nair