Puri Jagannadh (Photo by arrangement)
If reliable sources are to be believed, producer-director Puri Jagannadh has agreed to compensate distributor Niranjan Reddy who bought distribution rights for ‘Double iSmart’ and suffered big losses. “The issue has been resolved amicably. After working out the collections and the payments made, Puri and Niranjan have arrived at a mutually agreeable compensation for losses and it is pegged at Rs 20 crore,’ says a top distributor, who adds, “Either Puri has to return in cash or he could do a medium budget film for Niranjan Reddy who is also producer,’ he adds.
On the other hand, director Puri is determined to bounce back into the reckoning and is planning a Telugu-Tamil bilingual and it would be an action-centric entertainer. “He is planning to work even with a Tamil star, if Telugu heroes are busy when his script gets ready. He is raring to go and show that he still has a bag of tricks to deliver a box office winner after flops like ‘Liger’ and ‘Double iSmart’, he points out.
Similarly, Niranjan Reddy who is an NRI and owns theatres in Rayalaseema became a household name after his rich production ‘HanuMan’ rocked the box office worldwide. “He is planning to make a mythological film in Hindi and also holding discussins with a few directors. He also turned distributor and has released a few Telugu movies,” he concludes.
( Source : Deccan Chronicle )
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