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Business
NCLT Allows Release of Vikram Bhatt's 'Haunted' on Condition of Revenue Deposit
🗓 17 Jun 2026, 07:01 PM
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The National Company Law Tribunal (NCLT) has permitted the release of Vikram Bhatt's horror film 'Haunted – Echoes Of The Past' on June 12, despite ongoing insolvency proceedings. The film's revenue must be deposited in a separate account as per tribunal directives.
The National Company Law Tribunal (NCLT), Mumbai Bench III, has given the go-ahead for the release of Vikram Bhatt's horror film, 'Haunted – Echoes Of The Past', on June 12. This decision comes amidst a legal dispute related to the insolvency of K Sera Sera & Vikram Bhatt Studiovirtual World Pvt. Ltd. and Hare Krishna Media Tech Pvt. Ltd.
While the film's release was sought to be restrained by the Resolution Professional (RP), the NCLT opted not to impose a stay. Instead, the tribunal has mandated strict conditions to protect the interests of the Corporate Insolvency Resolution Process (CIRP). Respondents, who claim to have acquired rights to the film prior to the insolvency proceedings, voluntarily undertook to deposit all revenues generated from theatrical, music, and other exploitation rights into a separate bank account.
Accepting this undertaking, the NCLT permitted the release, stipulating that all film revenues must be segregated and that weekly statements of income and expenditure be provided to the Resolution Professional. The RP is also empowered to approach the tribunal if any unusual expenses are identified. The matter is scheduled for further hearing on July 27, 2026.
While the film's release was sought to be restrained by the Resolution Professional (RP), the NCLT opted not to impose a stay. Instead, the tribunal has mandated strict conditions to protect the interests of the Corporate Insolvency Resolution Process (CIRP). Respondents, who claim to have acquired rights to the film prior to the insolvency proceedings, voluntarily undertook to deposit all revenues generated from theatrical, music, and other exploitation rights into a separate bank account.
Accepting this undertaking, the NCLT permitted the release, stipulating that all film revenues must be segregated and that weekly statements of income and expenditure be provided to the Resolution Professional. The RP is also empowered to approach the tribunal if any unusual expenses are identified. The matter is scheduled for further hearing on July 27, 2026.