Mumbai, January 22, 2009: The Bombay high court on Wednesday offered no relief to Matrix Media and Nisha Chainani who have produced 42 kms – a film based on Mumbai marathon. The film’s producers are locked in a battle with Standard Chartered Bank over amounts lent by the bank. The bank’s contention is that the rights of the film had been assigned to it after the producers borrowed Rs 1.25 crore from the bank.
Nisha Chainani – Proprietor of Eastern Union Entertainment and Director of 42Kms says “The release of the Film 42Kms is postponed as we are yet awaiting final clearance from the High Court, Mumbai regarding our matter with Joint Venture partners Standard Chartered bank.”
The bank had obtained an order of status quo from the Debt Recovery Tribunal (DRT) on January 2, 2009, which is still continuing.
The court asked the producers to go back to the DRT and then to the appellate tribunal before approaching the HC.
