Kochi, May 17 : The producers of the hit Malayalam film 'Manjummel Boys' heaved a sigh of relief on Friday after the Kerala High Court put a stay on criminal proceedings against them in a cheating case.

The three producers of the film directed by Chidambaram S. Poduval -- Babu Shahir, Soubin Shahir, and Shawn Antony -- are accused in a case registered at the Maradu police station near here for various offences, including criminal conspiracy, criminal breach of trust, cheating, and forgery.

The order was passed on a petition moved by Babu Shahir, who is one of the three partners in Parava Films LLP.

In November last year, these three producers entered into an investment agreement with a person named Siraj Hameed, who agreed to invest Rs 7 crore for the production of the film for a 40 per cent share of the net profit.

After the film became a hit, Hameed alleged that the producers failed to keep their word as he approached a commercial court, seeking action against the producers. The court issued an ex-parte order attaching the accounts of Parava Films.

After this, Hameed filed a criminal complaint alleging that the producers cheated also him.

However, after hearing the arguments on Friday, the Kerala High Court stayed the criminal proceedings against the producer trio.

The counsel appearing for petitioner Babu Shahir pointed out that the full revenues and expenses for the film haven't been settled yet, as it has only been two months since its release. Moreover, according to their agreement, Hameed would receive his share of profit only after all financial matters were settled.

It was also pointed out that Shahir has already paid Rs 50 lakh to Hameed and was ready to pay the due amount, but is unable to do so as their accounts were attached due to the earlier order passed by the commercial court.

/IANS