It has been a known fact that for a while, Eros and Firoz Nadiadwala have been in a tussle over exploiting the various rights for Welcome Back and also a sum total of 30 crore which, as per Eros, is owed to them by Firoz Nadiadwala.
Now as per fresh developments, the legal counsel of Eros has issued another notice which reads as below:
“The allegations in the Public Notice issued by Mr. Pravin Desai, Advocate on behalf of Base Industries Group in film trade Magazines Super Cinema and Bollywood & TV Reporter dated 23.06.2018 (said Notice) are false, and incorrect. The threats and intimidation therein against Eros in the said Notice are nothing but an ingenious device ploy and stratagem of a chronic defaulter/debtor to coerce, pressurize and intimidate Eros to withdraw its legitimate claim for recovery of Rs.30 Crores against Mr. Firoz A Nadiadwala as stated hereunder in respect of the film Welcome Back.
All relevant accounts of the exploitation of the rights of the film Welcome Back in a transparent manner was submitted to Mr. Firoz A. Nadiadwala who never objected to the same. Insofar as the threats and intimidation of Mr. Firoz A. Nadiadwala is concerned Eros may if so advised file appropriate legal proceedings to counter the same.
Even According to the authentic trade website (https://boxofficeindia.com/overseas-total-gross.php) reporting both India & Overseas Bollywood films business, Welcome Back is at No 71 showing a gross of US $5.50mn. The allegations of Rs. 100 Crores alleged by Mr. Firoz A. Nadiadwala are thus utterly false.
Eros has filed Statement of Claim for the unrecouped amount of Rs 30 Crores against Mr. Firoz A. Nadiadwala of Base Industries Group in respect of the film “Welcome Back” with the Arbitral Tribunal of Sole Arbitrator appointed by Hon’ble Mr. Justice B.P. Colabawalla of Bombay High Court. The matter is thus coram sub-judice before Arbitral Tribunal.”
Stay tuned as we bring to you further updates on the matter.