Sun pictures is a part of Sun TV Network which deals with the business of film production and distribution.
The case will be withdrawn only after the High Court grants permission and Saxena will be released then.
Saxena was arrested under five different complaints, two cases against him were declared invalid by the High Court in the criminal proceedings.
The complaints were filed by six theater owners who claimed that their deposit amount for the movie 'Endhiran' was not duly returned. The owners demanded a refund of deposit of Rs 1.5 lakh.