Lyca’s shocking claim against Karunamoorthy and Kamal’s Indian 2

Lyca Productions has lodged a complaint with the Greater Chennai Police Commissioner, to investigate the various financial misdeeds that have happened over the six years of its business relationship Ayngaran International Films’ Director Karunamoorthy K.

It has requested the Commissioner to investigate Karunamoorthy claiming that he has not only committed fraud to the tune of 90 Crores but also signed Simbu’s ‘Vanthaa Rajaavathaan Varuven’ and ‘Indian 2’ without the knowledge of the company.

In the letter, it is stated that the collaboration between Karunamoorthy and Lyca began on a good note in 2013 when they were financing Vijay-starrer Kaththi. Lyca had roped in the services of Karunamoorthy to impart his technical expertise and help them gain a foothold in the industry.

The letter also reveals the influential presence of Banu, a close confidant of Karunamoorthy, who was privy to all the financial dealings. Lyca Productions Director Neelakant Narayanpur, in the letter, states Karunamoorthy was an important part of Lyca and took charge of approving scripts, and producing films. Apart from this, it is said in the letter that it was Karunamoorthy who decided the remunerations for artistes and technicians. It is also alleged that Karunamoorthy deputed Banu to take such decisions in his absence.

It has allegedly come to light that Karunamoorthy has diverted funds from Lyca to his own company to the tune of 90 crores and has also borrowed money in the name of Lyca apart from paying a builder rupees 25 Crores.

It is further alleged that when the financial misappropriations of Karunamoorthy came to light he agreed to pay around 14 Crores in a year’s time for the losses incurred due to the flop of ‘VRV’ and the delay in ‘Indian 2’.  

The letter also lists other financial disputes arising from Karunamoorthy’s hotel expenses, cash advances, flight charges, payments made to a certain construction company, etc.