The release of the eagerly awaited film ‘Haunted 2’ has been stalled due to a legal dispute currently before the National Company Law Tribunal (NCLT), according to a public notice issued by CA Bharati Manoj Daga, the court-appointed Resolution Professional (RP) for Hare Krishna Media Tech Pvt Ltd.
The notice warns the Indian film industry, including distributors, exhibitors, OTT platforms, broadcasters, cinema chains, advertisers, and aggregators, against engaging in any commercial dealings with the film, which is considered a “frozen asset” amid ongoing insolvency proceedings. The scheduled release date of June 12, 2026, is subject to a status quo order issued by the NCLT.
Speaking on the issue, Daga explained that the notice was issued as a caution to trade stakeholders. “The notice is published by me in the trade magazine for the people at large to know in the trade that there is this kind of thing which is happening in the court. I cannot say anything more because the matter is sub judice and it can go anywhere,” she said.
Filmmaker Vikram Bhatt and VSB Production LLP strongly refuted the claims made by the RP. Through their legal counsel, Adv. Zain J. Shroff of YNA Legal LLP, they stated that Hare Krishna Media Tech Pvt Ltd has no ownership or commercial relationship with ‘Haunted 2’. “Mr Vikram Bhatt and VSB Production LLP categorically deny the baseless implications sought to be created through the so-called public notice issued by CA Bharati Daga. Hare Krishna Media Tech Pvt Ltd has no subsisting ownership or commercial connection with the film in question, nor is any transaction undertaken or being enforced with the said company. Thus, there is no justification or reason for the RP to have issued this notice and in any event, it is redundant and of no legal significance,” Shroff said.
The statement also highlighted that the NCLT had previously declined to restrain the film’s release in an order dated November 18, 2025, instead directing the disclosure of revenues. “The Hon’ble NCLT vide Order dt. 18.11.2025 had declined to restrain the release of the film and merely directed disclosure of revenues, which order has attained finality and continues to operate,” it added.
Bhatt’s legal team accused the RP of acting with mala fide intent and questioned her appointment, pointing to alleged professional misconduct and ties with the K Sera Sera Group, which they claim disqualify her from serving as RP. “The present notice appears to be nothing but a continuation of a mala fide and motivated campaign against Mr. Vikram Bhatt, despite serious complaints of professional misconduct and non-disclosure, especially regarding her association with the K Sera Sera Group, which squarely disqualifies her from being appointed as an RP. Appropriate steps in this regard before the appropriate authorities are contacted. The matter is presently sub-judice,” the statement said.
Daga has filed an application (IA No. 5299 of 2025) before the NCLT related to alleged “preferential transactions and connected reliefs” under the Insolvency and Bankruptcy Code, 2016. The NCLT’s Mumbai Bench ordered all parties, including director Vikram Bhatt and related entities, to maintain the status quo regarding the film on April 15, 2026.
The RP claims that ‘Haunted 2’ is an asset belonging to Hare Krishna Media Tech Pvt Ltd, citing the film’s initial registration and development expenses borne by the company. “There is an asset on dispute which according to me looks like from the books that it is mine. However, it was given away to somebody else. So that is the case that I filed in the NCLT,” Daga said. She added, “The reason why I thought the movie belonged to me is that the previous name of the movie was initially registered in Hare Krishna’s name. There were a lot of expenses towards Haunted 2. So that is the reason I am saying that Haunted 2 is the movie which is in question.”
The public notice points out that despite the subsisting status quo order, announcements regarding the film’s release on June 12 have circulated. “The Status Quo Order is that ‘Haunted 2’ movie, which I have told the court, looks like belonging to me. That is the status quo that the order says that it should not be released till the matter is over, till any decision finally comes out. The stay is on ‘Haunted 2’ so that it does not get released till the status quo needs to be maintained on whatever the state is today,” Daga explained.
She expressed concern over release announcements on social media despite the court order, stating, “Because the social media is flooded with the release, and when the status quo is there and still the media says it is going to get released. So I’m getting a little wary that, in spite of the status quo, this is happening because nobody knows about it. It is a court decision. No, the court decision is not public… So it’s just a trade to know that something is there with respect to the movie and they should be cautioned about it.”
Daga emphasised that the notice was intended as a caution for industry stakeholders considering financial or commercial dealings with the film. She said the tribunal will ultimately decide the ownership and legality of any transfers related to the film. “There are so many things that need to be decided. Nothing is yet decided. Everything is a question mark on the table of the NCLT. So once the judge looks at it, goes through it, gives a judgment, it is everything is objectified. Can’t be said right. Can’t be said wrong. It cannot be said anything,” she said.