In what can be called shocking news, several filmmakers have landed in trouble for dealing with now-defunct production company Phantom Films. A bank has issued a public disclaimer about the makers of several films including top movies like Lootera, Singham Returns, and many more. Scroll down to know more.
Reportedly, the leading bank has claimed that certain securities have been created in favour of the bank with regard to these films and Phantom films have also hypothecated its intellectual property rights against a working capital loan facility obtained by them.
As per ETimes, the notice issued by the leading bank is relevant to Eclatant Films and not Phantom Films directly. The publication also cited a source as saying, “This notice is relevant to Eclatant Films Pvt Ltd only. They have a separate board of directors, not related to current Phantom Films owners Madhu Mantena and Sheetal Talwar. Phantom’s operations are independent since it was revived by Mantena and Talwar.”
Previously, filmmaker Madhu Mantena who has produced several Bollywood films had talked about reviving Phantom Films. He was one of the co-founders of the production company with Anurag Kashyap and Vikramaditya Motwane. Talking to the publication, he said, “After exiting Phantom Films by selling our shares to Reliance Entertainment, Sheetal and I felt the emotional need to buy back the Phantom brand, the Phantom films, and some of the assets that we love. We hope to see the Phantom brand in 2.0 metamorph from a production company into a talent-first Studio that empowers directors and producers equally.”
Almost a decade after the release of Singham Returns, Ajay Devgn and Rohit Shetty are all set to expand the cop universe. It was recently announced that the director-actor duo will reunite for the third part of the action-entertainer titled Singham Again.
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