Hyderabad, March 23 (IANS) 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.
Natural calamity has created havoc in Himachal Pradesh. As many as 1,220 roads were closed in Man
A fire broke out at the Netaji Subhash Chandra Bose International Airport in West Bengal's capita
Monsoon Session: Will the Center bring a bill to curb the population? Ravi Kishan made this demand
The Center can bring a bill to Parliament to curb population control. In this regard, BJP MP Ravi
Irrfan Khan Health Update: Irrfan Khan in ICU, news of death rumor, know his health update
Actor Irrfan Khan was admitted to the hospital on Tuesday after a sudden deterioration. As soon a
The semi-final match of the Champions Trophy will be played between India and Australia today. Th
As soon as the Ayodhya gang rape case got linked to Sitapur, the village of Moodikheda in Laharpu
The plan for metro connectivity from Gurugram's Palam Vihar area to Delhi's Dwarka Sector-21 was
Cold has been wreaking havoc in Delhi for the last few days. The same harshness of winter continu
PM Modi declares lockdown ‘Crossing your home’s lakshmanrekha will invite Corona inside’
स्वास्थ्य अधिकारियों द्वारा कोरोनो
The world's first bitcoin city will be built in El Salvador, know the special things related to it
Central America-based country El Salvador is planning to build the world's first bitcoin city, wh
