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T-Series moves to High Court against filmmaker Anees Bazmee for claiming 9 crores against 5.50 crores, that was decided upon the MOU signed between T-Series and Anees Bazmee. The figure of 114 crores reported in the news is the gross collection of the film, out of which only 40% is the producer’s share.
Mr. Anees Bazmee was engaged to direct the film vide MOU dated 4th June 2008 for a remuneration of Rs. 8.61 crores. Thereafter to certain disputes and differences the project did not take off. On 30th March, 2010 two letter agreements were signed by the parties. The effect and purpose of these agreements was that remuneration of the Director was scaled down to Rs. 5.50 crores, rest of the terms remained same and further in case of profits the same were to be shared in an agreed ratio between the Producer and the Director. One of the components of the cost of the film was Producers Fees to be charged @ 7.5% of the cost of the film or interest. Therefore, after accounting for all revenues earned by the film and reducing therefrom the cost of the film, print and publicity expenses and Producer’s Fees there is in fact a deficit in the film.
T-Series counsel Hiren Mehta says, “The above position was explained to the Mr. Anees Bazmi but he refused to accept the same and initiated several litigations including the claim filed before the Arbitrator. This has been challenged before the Hon’ble High Court of Bombay. As law abiding citizens of India we have full faith in the judiciary and will fully respect the decision of the higher judicial forums.”
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