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.
Sports Day is celebrated every year on 29 August in the country on the birth anniversary of Hocke
Chasing a massive target of 243 runs against Sunrisers Hyderabad in IPL 2026, the Delhi Capitals
The situation of the corona epidemic in the country is continuously improving. Corona cases have
Why did Trump speak against the governor of New York amid Corona crisis?
On Thursday, Trump had said that the decision to remove the restrictions imposed due to the coron
Maidaan Teaser: Ajay Devgan's film 'Bholaa' has come among the audience. This film is getting a l
There has been a lot of competition between Amazon and Reliance Industries regarding investment i
Gujarat Titans have secured their seventh win in the current season of IPL. He defeated Rajasthan
Journalist Siddique Kappan gets 5-day interim bail to see his mother, UP police will monitor
The Supreme Court has granted interim bail of 5 days to Siddique Kappan, a journalist arrested by
Corona Cases in India: Coronavirus is scaring, 602 new cases found in the country Five people died
Corona Cases in India: A decrease in Corona cases was recorded in the country a day ago, but toda
Noise is continuously launching in India. The company has launched three TWS earphones one after
