Firoz A Nadiawala faces legal trouble

237
Firoz A Nadiadwala's 'Welcome Back'
Firoz A Nadiadwala’s ‘Welcome Back’

The Mumbai court has issued an arrest warrant against Hindi film producer Firoz A Nadiawala in connection with a cheque of his that bounced on payment.

The XVII Metropolitan Magistrate Saidapet issued the warrant before authorising the Juhu Police in Mumbai to arrest Nadiawala and produce him before the court on 27th June. Confirming that he will be granted immediate release on bail the same day if he appears in court, the magistrate further said if Nadiawala furnishes one surety before the court, he may be released.

The order was passed on a petition by city-based film financier Nirmal Kumar Maheshwari who stipulated that Nadiawala had borrowed 2 crores from him in 2011 for a movie titled ‘Power’ which never released. Allegedly, they had entered into another agreement in September 2013 when Nadiawala promised to pay Rs. 5.4 crore towards principal and interest to Maheshwari before the release of his film ‘Welcome Back'(2015), which starred John Abraham in the lead role.

However, the ‘Phir Hera Pheri'(2006) producer failed to honour his side of the agreement and when in 2015 the cheque for the amount was returned for want of sufficient funds, the petitioner moved to the court to bring legal proceedings. Maheshwari argues that Nadiawala knew his account held insufficient funds and yet proceeded to issue cheques which is a punishable offence under section 138 of the Negotiable Instruments Act.

Stay updated with��BizAsia��for more.

 

Leave Comment

Please enter your name here
Please enter your comment!