Pyramid Saimira goes cheating

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Pyramid Saimira goes cheating Empty Pyramid Saimira goes cheating

Post by swatika on Tue Jul 22, 2008 12:07 am

Pyramid Saimira is now into troubled waters again. Few months before they were into trouble when all of their cheques were returned from their banks dur Insufficient funds.
Now Saimira who was caught up in various problems will be now facing a legal battle in connection with the nonpayment of profit to the producers.
Kamalam Kalaikudam has produced a film titled Valluvan Vasaki and Pyramid Saimira had taken up the distribution and promised to pay the producers an amount of Rs.50 Lakhs. Further this corporate house has demanded Rs. 20 Lakhs towards advertisement expenses and a 10% on the box office collections. The producers have agreed to this norms and permitted Saimira to go ahead. But Saimira maintained their silence about the theaters in which this film will be released. Further they have demanded Rs. 27 Lakhs towards advertisement expenses.
Now the producers have filed a case stating that Pyramid Saimira has to pay Rs.50 Lakhs towards distribution rights, Rs.40 Lakhs towards the profit and Rs.10 Lakhs towards compensation and cost. Manickavasalu and Sivakumar on behalf of Kamalam Kalaikudam have filed a petition in the court. Judge who had gone through the petition has directed Mr. Palaniappan, CEO of Pyramid Saimira to file the reply statement within 10 days.
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GodFather - Lord of NAI

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