 "Rs 250 cr at stake on Sanjay Dutt's movies: Analysts")
SC also upheld conviction of Sanjay Dutt under Arms Act in 1993 blasts case but reduced his six-year jail term given by TADA court to five years. He has already served 18 months in the jail. He will have to surrender within four weeks.
SC said that the circumstances and nature of offence was so serious that Dutt cannot be released on probation and, moreover, the evidence and materials perused by TADA court in arriving at the decision against him was correct.
After the verdict was announced his lawyer Satish Maneshinde said Dutt is a "strong man and will fight for himself".
Analysts say over Rs 250 crore are riding over him. Trade analyst Amod Mehra said, "While approximately films worth Rs 250 crore were under production with him, money is not a question here. It is a big jolt to the industry. He is one of the prominent personality in the film fraternity. Everyone had forgotten about the charges and the verdict has come as a rude awakening call and shock for the whole industry.”
At present, one of his film is ready to release in May, while another film Policegiri was to be released in July. With Aamir Khan, his film PK is 50% complete. There are also films like Karan Johar's Unglee which is 25- 30% done, Mehra informed.
Dutt was first convicted in November 2006 for illegal possession of a 9 mm pistol and an AK-56 rifle.
Meanwhile, the film industry is shocked at the verdict. Mahesh Bhat wrote on twitter, “Heart Broken. Just heard that Sanjay Dutt has to go to jail for 5 years. I expected mercy! Alas it did not happen.”
Actress-turned-politician Jaya Prada commented, "This is very unfortunate, Sanjay Dutt is innocent."
Dutt, who was last seen in the movie Zilla Ghaziabad last month, will have to spend three years and six months in jail.
The death sentence of 10 others was commuted to life sentence by the court, which directed that they will remain in prison till death. SC commuted death sentence on the ground that the convicts were behind bars for 20 years and their economic condition was weak.
The life sentence of one Ashrafur Rehman Azimulla was reduced to 10 years while Imtiyaz Yunusmiya Ghavte was set free by reducing the sentence to jail term already undergone.
Supreme Court said that the management and conspiracy of 1993 blasts was done by Dawood Ibrahim and others in Pakistan and also noted Pakistan's intelligence agency ISI was also involved in the 1993 blasts.
The court said the police, customs and coastal guards are also to be blamed for the blasts.