Studio Green faces financial trouble: Will the releases of ‘Thangalaan’ and ‘Kanguva’ be affected?

The Madras High Court directed the production house to deposit ₹1 crore each before releasing 'Thangalaan' and 'Kanguva'.

Published Aug 12, 2024 | 6:01 PMUpdated Aug 12, 2024 | 6:07 PM

Studio Green is bankrolling both Thangalaan and Kanguva

Renowned production house Studio Green has landed in financial trouble after the Madras High Court directed it to deposit ₹1 crore each before releasing Vikram’s Thangalaan and Suriya’s Kanguva.

Justices G Jayachandran and CV Karthikeyan issued this order on an execution petition filed by an Official Assignee managing the estate of insolvent realtor and financier Arjunlal Sunderdas.

In 2019, the court directed Studio Green to pay ₹10,35,00,000 with 18 percent annual interest.

With Thangalaan set for release on 15 August, the court required ₹1 crore to be deposited by 14 August and a compliance report to be filed on the same day. Another ₹1 crore was mandated before the release of Kanguva.

In 2014, Sunderdas was declared insolvent, and the Official Assignee was tasked with assessing his debtors and creditors.

The assignee found that Studio Green, represented by KE Gnanavel Raja, owed Sunderdas ₹10,35,00,000. The assignee then sought court orders to recover this amount.

Gnanavel Raja argued that he and Sunderdas agreed to co-produce a Tamil film with each investing ₹40 crore.

Sunderdas paid for pre-production, but when he couldn’t pay the remaining amount, an arrangement was made where Gnanavel Raja granted Sunderdas the Hindi remake rights of three Tamil films—All in All Azhagu Raja (2013), Biriyani (2013), and Madras (2014). However, Sunderdas failed to fulfil his financial obligations.

The court found Gnanavel Raja’s defence lacking evidence. It noted that although Hindi remake rights were mentioned, no representatives from Gemini Colour Laboratory, which held the rights, were presented to verify the documents.

Consequently, the court rejected Studio Green’s defense and upheld the Official Assignee’s petition.

The current execution petition was filed after Studio Green failed to comply with the 2019 order, with the assignee seeking to attach the company’s future movies until compliance is achieved.

Given Studio Green’s financial trouble, it is worth examining whether it affects the release of Thangalaan and Kanguva.

About Thangalaan and Kanguva

Thangalaan, directed by Pa Ranjith, is set for a grand worldwide release on 15 August. This historical adventure, set in the pre-independence era, explores the role of oppressed communities in the gold exploration of the Kolar region in South India.

Besides Vikram, the film stars Parvathy Thiruvothu, Malavika Mohanan, Pasupathy, Daniel Caltagirone, and Hari Krishnan. Produced by KE Gnanavel Raja’s Studio Green Entertainment, it will be released in multiple languages.

Suriya’s highly anticipated film Kanguva is scheduled to release on 10 October.

Kanguva also features Bobby Deol and Disha Patani—marking their Tamil debut—besides Jagapathi Babu, Yogi Babu, Redin Kingsley, Kovai Sarala, and KS Ravikumar. The fantasy period action film will be presented in two parts and spans multiple periods.

Produced by Studio Green and UV Creations, Kanguva will be shot by cinematographer Vetri Palanisamy and edited by Nishadh Yusuf. The film is set to be released on 10 October in 38 languages in 2D, 3D, and IMAX versions.

(Edited by Y Krishna Jyothi)

(South First is now on WhatsApp and Telegram)

Kanguva trailer out: A blend of warfare, rivalry, and mystique

Follow us