Producer Nadiadwala’s cheque bounce case adjourned to July 18

His appearance was based on a warrant issued by the Magistrate directing the inspector of police Juhu police station in Mumbai to arrest him and produce him before the court. The magistrate made it known that if Nadiadwala furnishes one surety before the court, he may be released. Nadiadwala told the court that being a bailable warrant, he had appeared before the Juhu police and furnished two sureties and as per guidelines had been granted bail. 

But, the Magistrate on making it clear that the case will be tried here in Chennai, sought him to produce all relevant documents by July 18 and posted the case to that day. The case involves Rs 2 crore borrowed by Nadiadwala from Chennai-based film financier Nirmal Kumar Maheswari in the year 2011 for a Hindi film titled Power. The film, however, was never made and released. This prompted the two to enter into another agreement in September 2013, when Nadiadwala undertook to pay Rs 5.4 crore, towards principal and interest, to Maheswari before the release of his next film Welcome Back starring John Abraham. 

But, ahead of the release of Welcome Back, Nadiadwala approached Maheswari and issued another letter to him giving break of repayment details. While Eros International Media would pay Rs 2.5 crore, he would pay Rs 50 lakh before September 2015 and the remaining Rs 2.5 crore would be paid before the release of Nadiadwala next film titled ‘Hera Pheri-3’. 

Since Eros International did not pay Rs 2.5 crore as promised, and the cheques issued by Nadiadwala for Rs 2.5 crore too returned dishonoured for want of sufficient funds, Maheswari filed the present petition.