Bank puts late director KB’s house & office up for sale
TIMES NEWS NETWORK
Chennai: The office of Kavithalaya Productions, founded by late director K Balachander, has been put up for auction due to an unpaid loan. Along with the production company’s office, the Dadasaheb Phalke Award winner’s housein Mylapore will also go under the hammer.
UCO Bank delivered a notice to the family of the legendary director for an unpaidloan of ₹1.36 crore. Kavithalaya Productions has bankrolled several hit films featuring the likes of Rajinikanth and Kamal Haasan since the1980s.
The two flats are situated on the second floor of a commercial complex on Lady Desika Road, Mylapore. One flat, which has a builtup area of 1,700sqft, is under the name of Balachander’s daughter Pushpa Kandaswamy. UCO Bank has set an upset price (lowest acceptable selling priceof a property in an auction) of ₹87 lakh. The upset price for the other flat is₹119 lakh. It has a builtup area of 2,400sq ft and is registered under the name of Balachander’s wife Rajam Balachander. Pushpa and Rajam were involved in thefunctioning of the production house.
Balachander passed away in December 2014 following which thebanner had not produced any feature film. Kavithalaya Productions had produced more than 50 films including hits like ‘Naan Mahaan Alla’ (1984), ‘Sindu Bhairavi’ (1985), ‘Punnagai Mannan’ (1986) and ‘Saamy’ (2003). Balachander directed mostof thefilms he produced. Films by Kavithalaya were also critically acclaimed, with at least half a dozen of them winning National and Tamil Nadu state film awards.
The last major film bankrolledby Kavithalaya Productions was ‘Kuselan’ which featured Rajinikanth in an extended cameo. Financial strains caused by the film’s failure at thebox officeledKavithalaya to shelve all its ongoing projects.
The two flats are situated on the second floor of a commercial complex in Mylapore. UCO Bank has set an upset price of ₹87 lakh for one flat and ₹119 lakh for the other. The director died in 2014
TIMES NEWS NETWORK
Chennai: The office of Kavithalaya Productions, founded by late director K Balachander, has been put up for auction due to an unpaid loan. Along with the production company’s office, the Dadasaheb Phalke Award winner’s housein Mylapore will also go under the hammer.
UCO Bank delivered a notice to the family of the legendary director for an unpaidloan of ₹1.36 crore. Kavithalaya Productions has bankrolled several hit films featuring the likes of Rajinikanth and Kamal Haasan since the1980s.
The two flats are situated on the second floor of a commercial complex on Lady Desika Road, Mylapore. One flat, which has a builtup area of 1,700sqft, is under the name of Balachander’s daughter Pushpa Kandaswamy. UCO Bank has set an upset price (lowest acceptable selling priceof a property in an auction) of ₹87 lakh. The upset price for the other flat is₹119 lakh. It has a builtup area of 2,400sq ft and is registered under the name of Balachander’s wife Rajam Balachander. Pushpa and Rajam were involved in thefunctioning of the production house.
Balachander passed away in December 2014 following which thebanner had not produced any feature film. Kavithalaya Productions had produced more than 50 films including hits like ‘Naan Mahaan Alla’ (1984), ‘Sindu Bhairavi’ (1985), ‘Punnagai Mannan’ (1986) and ‘Saamy’ (2003). Balachander directed mostof thefilms he produced. Films by Kavithalaya were also critically acclaimed, with at least half a dozen of them winning National and Tamil Nadu state film awards.
The last major film bankrolledby Kavithalaya Productions was ‘Kuselan’ which featured Rajinikanth in an extended cameo. Financial strains caused by the film’s failure at thebox officeledKavithalaya to shelve all its ongoing projects.
The two flats are situated on the second floor of a commercial complex in Mylapore. UCO Bank has set an upset price of ₹87 lakh for one flat and ₹119 lakh for the other. The director died in 2014
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