New Delhi, Oct 7 (KNS): Actor Rajpal Yadav on Wednesday told the Supreme Court that a Rs 5 crore investment in a film had “sunk” him and resulted in losses of around Rs 250 crore, as the apex court considered his plea in a long-running cheque-bounce case.

A bench comprising Chief Justice of India Surya Kant and Justices Joymalya Bagchi and V Mohan was hearing Yadav's plea challenging his conviction in seven cheque-bounce cases involving M/s Murli Projects Pvt Ltd.

During the hearing, the CJI asked Yadav about his current work and projects.

“I have done 250 films over the last 16 years. I invested Rs 5 crore in this film and ended up losing Rs 250 crore,” Yadav told the court, according to the proceedings reported by NDTV.

The actor further said the Rs 5 crore investment had “sunk” him and caused him immense losses.

“I have already suffered losses in Ata Pata Laapata. I have lost Rs 17 crore. The total investment was Rs 22 crore. Not a single rupee was earned from it. The film could not even be released in a single theatre,” he told the court.

The exchange took a lighter turn when Chief Justice Surya Kant told the actor to “make a good film”, adding that there were several advocates in the courtroom who were also “good actors”.

The case relates to financial assistance of Rs 5 crore allegedly received by Yadav and his wife in 2010 from Murli Projects in connection with the production of the film “Ata Pata Laapata”.

According to the complainant, Yadav subsequently issued seven cheques of Rs 1.05 crore each towards settlement of the liability, but the cheques were dishonoured.Click Here To Follow Our WhatsApp ChannelA later agreement provided for repayment of the principal amount along with interest and other charges.

The Delhi High Court in July upheld Yadav's conviction in the seven cheque-bounce cases and sentenced him to three months' imprisonment in each case, with the sentences to run concurrently. It also directed payment of more than Rs 1 crore to the complainant in each case.

The Supreme Court had earlier expressed strong displeasure over Yadav's failure to comply with its directions to deposit money and had warned him that he could face jail if he failed to honour the court's orders.

During Wednesday's hearing, Yadav's counsel told the court that Rs 1.15 crore was ready to be deposited through a demand draft. The lawyer also said a buyer of Yadav's ancestral property was willing to advance another Rs 85 lakh, taking the total to Rs 2 crore.

The Supreme Court directed that the Rs 1.15 crore be deposited on Wednesday and the remaining Rs 85 lakh through RTGS by the stipulated deadline.

The court also indicated that it would consider Yadav's plea against the High Court order after the payment conditions were fulfilled. A report on the day's proceedings said the court directed payment of Rs 2 crore by October 13.

The dispute dates back to the production of “Ata Pata Laapata”, with the financial disagreement eventually leading to the seven cheque-bounce complaints.

The Supreme Court had in September issued notice on Yadav's plea and granted him relief from surrender subject to conditions, including a substantial deposit.(KNS)