SANDEEP KAPOOR Vs. ANUJ SHARMA

JUDGEMENT

(1.) THE parties to the suit entered into a Memorandum of Understanding (MoU) dated 18th December, 2007, whereby the plaintiff agreed to invest 30% -50% of the budget of a film which was to be produced by the defendant. THE defendant was required to complete the film and release it by October, 2008, after the plaintiff had invested the agreed amount entirely. It was further agreed between the parties that the realization of the movie shall be distributed in the following manner:

(2.) THE case of the plaintiff is that he was informed by the defendant that the budget for the movie was about Rs 4- 4.5 crore and he paid a sum of Rs.1,32,00,000/- to the defendant on different dates. Since the defendant failed to complete the film by October, 2008, the plaintiff asked him to refund the money invested by him. THE defendant having failed to pay the amount invested by the plaintiff, the suit for recovery of Rs.1,32,00,000/- has been filed by him.

(3.) THE film in question has been completed during pendency of the suit. Vide consent letter dated 24th December, 2010, the defendant was permitted to negotiate the sale of the film and execute sale documents subject to condition that he will obtain a pay order of Rs.1,32,00,000/- in the name of Registrar General of this Court and deposit the same in the Court. THE amount of Rs.1,32,00,000/- has since been deposited by the defendant and the film has been released.