The Dindoshi sessions court last week rejected the anticipatory bail application of Luv Ranjan, producer and director of 'Pyaar Ka Punchanama', and his production company partner, Ankur Garg, in a case involving cheating an investor.
In August 2015, a representative of Blue Eye Arts Pvt Company discussed financing for Marathi film Friends with complainant Shivraj Suratkal. He was promised a 35 per cent profit in return for investment, and was told that 30 per cent of the movie had been completed. Suratkal said he then gave a loan of Rs 1.25 crore.
LUV Films ( in which Ranjan and Garg are partners) was appointed the movie distributor. The film released in January 2016, and earned R1.38 crore. According to the prosecution, after deducting a commission of 12%, the amount of Rs 1,21,44,000 had
to be deposited in Suratkal’s bank account, but was not done. Suratkal then lodged a complaint against Ranjan and Garg.
Ranjan and Garg thereafter filed for anticipatory bail at the sessions court. Refusing their plea, the court said, "...In spite of having agreed to make payment to the informant (Suratkal), they are avoiding this. The intention of the applicants is to cheat/deceive the informant.