Nadigar Sangam terminates land lease deal with SPI Cinemas

Tussle to cancel land deal was the foundation of stormy Sangam elections
Nadigar Sangam terminates land lease deal with SPI Cinemas
Nadigar Sangam terminates land lease deal with SPI Cinemas
Written by :

The South Indian Artistes Association, better known as the Nadigar Sangam on Monday announced that the land lease deal its previous office bearers had entered into with SPI cinemas has been cancelled.

The New Indian Express reported that the present office bearers of the Nadigar Sangam said they had held several meetings with the representatives of SPI cinemas with the intention of getting the deal cancelled as they had promised to do so in their election manifesto.

After negotiations with SPI cinemas, treasurer Karthi told The Hindu that the agreement had been cancelled after paying a sum of two crore and 48 lakh to SPI Cinemas. “We have paid them. The debt will be cleared in the due course of time,” he said. A number of initiatives have already been mooted by Nadigar Sangam members to clear the debts and put money in the bank such as jointly starring in a movie and through organising celebrity cricket match.

This decision comes after a long tussle with former Sangam President Sarath Kumar , who according to Indiaglitz, unilaterally along with actor Radharavi (brother of his wife Radhika) decided to demolish the building and sell the land to SPI cinemas in 2010. The multiplex would have one floor allotted to the Sangam, and the Sangam would also be paid a sum of Rs. 26 lakh every month as lease for the land. Demolition began in March 2011, but towards the end of 2012, allegations of irregularities in the contract surfaced. This set off a turbulent election season for the Sangam with a group of actors - Vishal, Karthi, Karunaas and Naseer, who eventually won the elections, contesting to prevent the sale from coming through.


Related Stories

No stories found.
The News Minute