Popular Tollywood film producer and actor Bandla Ganesh was granted bail in a cheque bounce case on Thursday by the Kadapa First Class Judicial Magistrate, a day after he was remanded to judicial custody.
Ganesh was held by the Banjara Hills police in Hyderabad after one Mahesh from Kadapa district had alleged that the producer had failed to repay a loan of Rs 13 crore. He also said that a cheque issued by Ganesh had bounced.
The court had issued a non-bailable arrest warrant against him, as Bandla Ganesh had not responded to the notices that he had been served.
While the court remanded him to judicial custody initially, after Ganesh negotiated a settlement, he was granted bail after he paid Rs 4 lakh to the complainant. The court also directed Ganesh to repay the remaining amount before November 14.
Bandla Ganesh is also accused of cheating another financier and producer, Potluri V Prasad, more commonly known as PVP.
PVP told reporters that Ganesh owes him Rs 7 crore, as he had borrowed Rs 34 crore to make Temper, which released in 2015.
PVP recently filed a case against Ganesh at the Jubilee Hills police station alleging that the latter sent men as an intimidation tactic, to prevent PVP from pursuing the cheating case. Ganesh filed a counter-complaint with the Banjara Hills police alleging that PVP had threatened to abduct him.
The writer of Temper had also earlier accused Ganesh of cheating him by not paying his remuneration of Rs 26 lakhs. Following a case against him, the Erramanzil court in Hyderabad had earlier sentenced Ganesh to six months of rigorous imprisonment along with a fine of Rs 15,86,550 for failing to pay the full remuneration.