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Even as uncertainty looms over the release of Vikram-starrer "I" on 14 January, the film's producer Aascar Ravichandran has asserted that the film will indeed release for Pongal.

On Thursday, the Madras High Court stayed the release of "I" till 30 January following a petition filed by Chennai-based Picturehouse Media Limited which alleged "violation of financial and commercial agreements between it and producers Aascar Films (Private) Ltd," PTI reported. 

The judge granted interim injection on the petition and restrained the release of the film till 30 January.

The producers, distributors, film laboratories and digital projection services "are hereby restrained by an order of interim injunction till January 30, 2015 from releasing the movie in theatres all over the country, and outside India," the judge said in his order. 

The judge asked the parties involved to settle the issue by arbitration. Meanwhile, producer Ravichandran has said that the issue will be sorted soon and the film will release as planned on 14 January worldwide.

"#I update -The legal issue between producer Aascar Ravichandran & Picturehouse Media will b sorted out amicably. On track 4 a Pongal release," tweeted entertainment industry tracker Sreedhar Pillai. An official announcement from the producer is expected on Thursday.

Directed by Shankar, "I" is a romantic thriller with Vikram appearing in different looks. Amy Jackson plays the female lead, while Upen Patel and Malayalam actor Suresh Gopi will be seen in pivotal roles. The film's music is composed by AR Rahman and cinematography is handled by PC Sreeram.

The film is expected to release in record number of screens worldwide. Advance booking for the film has opened in select theatres and full-fledged bookings are expected to start soon.

Expectations are sky high for "I" as the film marks the second-time collaboration between Shankar and Vikram after the big success of "Anniyan" released in 2006. "I" is expected to take huge openings upon its release. However, it needs to be seen if the film's content impresses the audience and whether the film fares well at the box office.