A while back, actor Nagarjuna was criticized for being a big defaulter to the bank where he had taken loans to develop his studio. It was even reported that the bank sent a seizure notice to his studios. The actor agreed that he had taken the loans, but denied that he didn’t repay them. He officially announced that he had cleared all his bank dues.
“It is true we took a loan frm banks to build new film facilities at Annapurna studios earlier. ALL LOANS HAVE BEEN CLEARED EARLIER THIS YEAR (sic),” he tweeted. He added “For the few who may believe so neither me nor Annapurna studios owe any money to any banks!!FYI (sic).”
The announcement comes at a time when the Prime Minister has banned big currency notes to block black money. According to a source, Nagarjuna received his share of Rs 750 crore when he was a partner in a TV channel.
When Nimmagadda Prasad, the main shareholder of the channel, sold it to Star India, Nagarjuna got his share and was thus able to clear the bank loans with it. Chiranjeevi and Allu Aravind are also partners of the same television channel.
