New Delhi: A significant shift has been reported in the much-anticipated Hera Pheri 3, as veteran actor Paresh Rawal has officially exited the project. His withdrawal has stirred up chatter within industry circles, particularly due to the financial clause that allegedly prompted the move.

According to sources, the veteran star who was initially onboard to reprise his iconic role as Baburao, has returned his signing amount of Rs 11 lakhs. The sum was refunded with an added 15% annual interest, along with a nominal compensation amount for stepping away from the franchise.

Paresh Rawal returns signing amount for Hera Pheri 3

“Paresh Rawal has returned the signing amount of Rs 11 lakhs with 15% p.a. interest and also a little more money for stepping away from the series,” a source informed Bollywood Hungama.

It has been revealed that Paresh’s full remuneration was fixed at Rs 15 crores. However, an unusual clause in the term sheet stated that the remaining Rs 14.89 crores would only be disbursed a month after the film’s release. With principal photography expected to commence next year and a projected release date as late as 2026 or possibly 2027, the extended deferral reportedly became a point of contention for the actor.

“Paresh Rawal was paid Rs. 11 lakhs as a signing amount as per the term sheet. His total fees were locked at Rs. 15 crores. The term sheet mentioned that Paresh Rawal would receive the balance amount – Rs. 14.89 crores – only one month after the release of the film,” the insider elaborated.

Following his decision to exit, legal action was reportedly taken by Akshay Kumar’s production house, Cape of Good Films. The banner is believed to have filed a lawsuit seeking Rs 25 crores in damages.

About Hera Pheri 3

So far, only a promo shoot for Hera Pheri 3 has been completed, which was filmed using the crew and sets of Bhooth Bangla. No further updates on casting changes have been confirmed. Paresh Rawal’s departure has cast a cloud over the sequel’s future. Given his unforgettable portrayal of Baburao in Hera Pheri (2000) and Phir Hera Pheri (2006), fans are understandably disappointed.