Won't ask compensation from Mani Ratnam for 'Kadal': Linguswamy
IANS [ Sun, Mar 3, 2013 ]
- Chennai, March 3 (IANS) Director-turned-producer N. Linguswamy says he won't demand compensation from Mani Ratnam for distributing Tamil romantic-drama "Kadal", which flopped at the box office.
He distributed "Kadal" in three areas in Tamil Nadu - Kovai, Madurai and Chennai. Released on Feb 1, the Rs.50 crore film bombed at the box-office. Following its bad run, a few distributors met Ratnam seeking compensation for the losses incurred.
"Unlike other distributors, I won't go knocking on Mani Ratnam's door demanding compensation for the loss of 'Kadal'. In film business, profit and loss is part of the game and one needs to learn to live with it," Linguswamy said in a statement.
"Mani sir's films have been of great inspiration to me and I consider him my mentor. Neither I nor anyone from my production company will ask for compensation from him," he added.
The film also featured debutants Gautham Karthik and Thulasi Nair.
"We couldn't even recover 50 percent of the investment. We distributed the film hoping it will do well, but it didn't. On an investment of over Rs.10 crore, we couldn't even collect Rs.2 crore," one of the distributors of the film had told IANS earlier.
However, Ratnam clarified that his production company Madras Talkies was not responsible for the loss.
According to a statement from Madras Talkies, it had sold 'Kadal' (both Tamil and dubbed Telugu versions) to Gemini Industries and Imaging Ltd in March 2012 itself on MG (Minimum Guarantee) basis.