We reported here that a complaint has been filed by a Chennai-based advertising company Ad Bureau Advertising Private Limited against Latha Rajinikanth and Murali Manohar of Media One Global, the producer of Kochadaiiyaan for non-payment of debts. It was said that while Murali signed the deal, Latha signed as the guarantor for the debts. Now, Murali Manohar has officially sent his part of the story which completely refutes Ad Bureau’s claims as bogus.
“Media One negotiated to borrow 33 crores from Ad Bureau Advertising Private Limited before the release of the film. Ad Bureau, in spite of promises, failed to arrange the Rs. 30 crores. Ad Bureau paid only Rs 10 crores which resulted in postponing the scheduled release of the film from May 9th, 2014. We have repaid Rs 4.75 crores out of the Rs 10 crores and we have made another demand draft of Rs 4 crores on November 11th, 2014. We agreed to repay the balance with Interest, which was secured by property collaterals. But Ad Bureau demanded exorbitant interest amounts of more than 4 crores for Rs 10 crores for the period of 6 months and threatened to report the matter to the press to tarnish our (Public Limited) company image and defame Mrs. Latha Rajinikanth’s image. Mrs. Latha Rajinikanth was never involved in this transaction. She never signed as a guarantor or issued any cheques in this transaction as claimed by Ad Bureau. She had signed some papers only for the Rs. 33 crores transaction which never materialised. Involving her into this transaction, which is between two Limited Companies, is malicious and done with the intention of exortion,” says Murali Manohar, the director of Media One Global Entertainment Limited.