Fight between Gemini Films and Geetha Arts

There seems to be a cold war between Gemini Film Circuit and Geetha Arts regarding the remake rights of Hindi Blockbuster "3 Idiots". Vidhu Vinod Chopra, the producer of 3 Idiots is keen on making the film in telugu in partnership with Geetha Arts...but Gemini Film Circuit went ahead and quoted 10 Crores for the remake rights. With this Geetha Arts got in to soup and are forced to move back as they feel that buying a story for 10 crores would not make any business sense. Analysts in the Industry say that paying such huge amounts for remake rights is going to further push the industry into slump.