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.