Close X
Sunday, January 12, 2025
ADVT 
Bollywood

Banks Issue Notices To Nagarjuna's Studio To Recover Loans

Darpan News Desk IANS, 23 Mar, 2015 12:13 PM
  • Banks Issue Notices To Nagarjuna's Studio To Recover Loans
Two public sector banks have issued notices to leading Telugu actor Akkineni Nagarjuna's film studio to recover loans amounting to Rs.62 crore. The actor is hopeful of resolving the issue in a few days.
 
Nagarjuna has denied reports that Andhra Bank and Indian Bank have seized the 7 Acre Studio in Jubilee Hills here.
 
Sources close to the actor told IANS that the bank authorities have neither seized nor sealed the studio. "All film shootings and other activities are continuing as usual," a source said.
 
The 7 Acre Studio is an extended facility of Annapurna Studio, founded by Nagarjuna's father and legendary actor Akkineni Nageswara Rao in the 1970s.
 
Nagarjuna, who is the managing director of Annapurna Studio, and other officials were negotiating with the banks and were hopeful of an amicable settlement within a week.
 
Akkineni family reportedly owes Rs.32.3 crore to Andhra Bank and Rs.29.7 crore to Indian Bank. The banks asked the family to clear the dues, failing which they will seize the studio.
 
The actor in 2012 had announced Rs.100 crore investment in new facilities including state-of-the art climate-controlled movie production studios.
 
The family had raised Rs.70 crore as loans from a consortium of banks and invested about Rs.25 crore of their own funds.

MORE Bollywood ARTICLES

How Not-good-looking Naseer Got His First Film 'Nishant'

How Not-good-looking Naseer Got His First Film 'Nishant'
 It was not merely for his acting prowess that the Bollywood actor Naseeruddin Shah got his first role in "Nishant". Not being a good-looking actor had instantly struck a chord with the film's director, Shyam Benegal, who cast him for a pivotal role.

How Not-good-looking Naseer Got His First Film 'Nishant'

Soha Ali Khan, Kunal Khemu To Wed At Their Home

Soha Ali Khan, Kunal Khemu To Wed At Their Home
Actors Soha Ali Khan and Kunal Kemmu have decided to have a low-key wedding at their house in Khar here. The bride is confident it will be special, while her mother and actress Sharmila Tagore says she's "very happy" for her daughter.

Soha Ali Khan, Kunal Khemu To Wed At Their Home

SRK Roped In For 'Big Show' On &TV

SRK Roped In For 'Big Show' On &TV
Superstar Shah Rukh Khan is returning to the small screen. The Bollywood 'Badshah' will soon be seen on a grand new show as part of his association with new Hindi general entertainment channel &TV, a source said.

SRK Roped In For 'Big Show' On &TV

Katrina Kaif Shoots With Visually Impaired Photographer

Katrina Kaif Shoots With Visually Impaired Photographer
The photographs, which bring out the feminine sensuality of the actress, were captured by Patel for Lux. A video of the photoshoot was launched on video-sharing website Wednesday.

Katrina Kaif Shoots With Visually Impaired Photographer

Mallika Sherawat Confident Of Image Change With 'Dirty Politics'

Mallika Sherawat Confident Of Image Change With 'Dirty Politics'
Actress Mallika Sherawat believes that after watching her work in upcoming film "Dirty Politics", filmmakers will start offering her performance-oriented roles.

Mallika Sherawat Confident Of Image Change With 'Dirty Politics'

'Deewaar' Most Perfect Script: Amitabh On Film's 40 Years

'Deewaar' Most Perfect Script: Amitabh On Film's 40 Years
Amitabh Bachchan-starrer “Deewaar” hit the screens 40 years back and the megastar has thanked its scriptwriters Salim Khan and Javed Akhtar for the "perfect script".

'Deewaar' Most Perfect Script: Amitabh On Film's 40 Years