Mumbai, Sep 4 (UNI) Film Producer Bharat Shah has filed a complaint in IMPPA for recovery of Rs 25 crore against Ram Gopal Varma of the Varma Corporation Limited that is continuing its business, but not returning the amount due to him.
In a release here, IMPPA said Shah had invested for production of the company's films -- 'Satya', 'Mast' and 'Jungle', but the money has not yet been returned.
Shah informed IMPPA that Varma had assured him that when their company is listed, they would give him shares worth Rs 10 crore at the rate of Rs 10 per equity shares, but even after signing the papers, they have not issued any such shares and continue making false commitments without any intention of fulfilling them.
He has requested IMPPA to settle the claim with the Varma Corporation and Ram Gopal Varma at the earliest.
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