Bharat Shah demands back 25 Crores from RGV

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Article Updated 04 September, 2008 08:37:05 PM IST

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Bharat Shah demands back 25 Crores from RGV

By Our Correspondent ©2008 Bollyvista.com

Bharat Shah

Bharat Shah

Mr. Bharat Shah has filed a complaint with the IMPPA (film producers association) for recovery of Rs 25 crores against Ram Gopal Varma of Varma Corporation Ltd, which is continuing to doing business but is not returning the amount due to him used to invest in the production of their films 'Satya' 'Mast' and 'Jungle'.

Mr. Bharat Shah has further informed IMPPA that Ram Gopal Varma assured him that when their company was going to be listed they would give him shares worth Rs 10 crores @ Rs 10/-per equity shares. However, even after signing the papers they have not issued any such shares and have continued giving false commitments without any intention of fulfilling them.

In view of this, Mr. Bharat Shah has requested the IMPPA to settle their claim with Varma Corporation Ltd and Mr. Ram Gopal Varma at the earliest time period.

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