Venkata Rao, producer of the blockbuster movie Samarasimha Reddy starring Bala krishna and the recently released Narasimhudu
has attempted suicide by jumping into the hussain sagar river while travelling by the tank bund road in the morning along with his
brother Chengala Hara nath. The police who were around at the time rescued him and moved him to KIMS hospital. Narasimhudu movie was released amidst lot of trouble with the financiers.
As per the unconfirmed sources, Chengala Venkata Rao had started a distribution office in the Uttarandhra area before starting the Narasimhudu movie and he took the
advances from the exibhitors to the tune of around 1.3 crores. The movie went into deficit due to the huge budget and had problems during the release time.
As part of the agreement made during the release time, the movie is to be distributed by the Suresh film distributors in the Uttarandhra area. Chengala Venkata Rao could not give the money to the
exibhitors from whom he had taken the advance. He gave back an amount of around 55 lakhs and he dried up and is yet to give 75 lakhs to the exibhitors from whom he had taken the advances. The exibhitors did not allow the movie to be released in
the uttarandhra area and is yet to be released as of now.
The exibhitors filed a cheating case on the distribution office started by Chengala Venkata Rao and the manager of the distribution office is arrested.
Since Chengala Venkata Rao is an MLA of Payaka Rao peta constituency which is in Uttarandhra area. He felt dishonored as the movie is not released and he could not
fulfill the commitments that he had made to the exibhitors as well as distributors during the release of the movie. It looks like he said 'Rather than he being rescued from the suicide, if the movie would have released he would have felt happy.
Chengala Haranath brother of Chengala Venkata Rao told that the suicide attempt was due to family problem.
As of now the above are the two versions being circulated in the film circles.
More news to follow....