This is a case of Cheque Bounce and hence one of the top producers of Bollywood, Firoz Nadiadwala was summoned by the court to be present before the court on 27th June. A Chennai court issued an arrest warrant on the producer.
Going into the details, Firoz Nadiadwala borrowed money for his film ‘Power’ in 2011 and since then there had been some incongruity regarding financial settlements between the producer and Chennai based financier Nirmal Kumar Maheshwari. The producer had to pay more than 5 crore rupees to the financier.
In this regard, the Rs.2.5 crore cheque was given to the financier by Firoz, which bounced because of insufficient funds in his account and hence Maheshwari filed a case against the Bollywood producer. An arrest warrant was thus issued by the court. So, the producer has to appear before the court and then get a bail.
