Tollywood ace director Koratala Shiva is having a bad time dealing with the losses of his last film, ‘Acharya’. Despite having the star power of Megastar Chiranjeevi and Ram Charan, the film failed utterly at the box office. According to the major box office sources, “Acharya” left an 80 crore loss to the distributors in the Telugu speaking states.
To demand compensation for their losses, distributors from Telugu states are staging a protest in front of Koratala Shiva’s home.
Why are distributors targeting Koratala Shiva instead of the producer, Niranjan Reddy?
Koratala Shiva took over the project from Niranjan Reddy by repaying his 4 crore investment and investing his own money in it. Ram Charan’s Konidela Productions only handled the remuneration terms. Koratala was shocked when “Acharya” turned out to be a failure and got him into serious difficulties. The distributors of “Acharya” are pursuing Koratla Shiva for this reason.
Shiva has reimbursed the distributors for about 6 crores in order to cover the losses of the ceded area, but there is still much to be done in this contentious financial game. According to rumours, the director has kept his opulent home in the center of Hyderabad city up for sale and is hoping to get at least a buyout clause of 45 crores from it so he can pay the distributors.
We just have to wait and watch how Koratala Shiva comes out of this financial crisis.