` Samarth Prasad Rues Blind Business - chitraloka.com | Kannada Movie News, Reviews | Image

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Distributor prasad image
Samarth prasad

Businessman Samarth Prasad, whose failure as a film distributor finally led to his arrest on Saturday morning rues getting into films blindly. He was arrested Saturday morning for a dishonoured cheque and produced before a magistrate. He has been granted bail. After his release the same day, Prasad said he has lost money in the distribution business because of bad moves and getting involved without learning enough about it.

"I will not blame anyone. I had earned money through stock brokering. I have lost all of it in the film distribution business. Apart from my money, I have lost money of a few others who had invested. It is all because of bad luck. I got into the distribution business through Vishnuvardhana. I made money in a short time. Thinking that it was an easy business to make money, I invested in more films. But it turned out to be a minefield. I lost heavily. I did not produce any movies and I hold only a distributor's card," Prasad said. Prasad also bought an audio company. "After losing money in distribution, I invested in an audio company. That turned out to be a bigger losing proposition," he said.

Prasad says he has given money to many in the industry. "I have provided money to many. If they are kind enough to return, they will return it. Otherwise I am not going to force them by filing cases. I have attempted suicide once over the failures. But I will never do that again. I am working again and I will bounce back. It will take some time. I owe people money and I will return it. It will only take some time to repay all the debts. I have no intention of cheating anyone," he said.
 
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