Bollywood actor Rajpal Yadav’s house is up for auction
Photo Collected
Bollywood’s popular actor Rajpal Yadav is in legal and financial trouble for not being able to repay the defaulted loan of more than 16 crore 61 lakh rupees. Bank authorities have already started the process of auctioning several of his properties as part of recovery of the dues.
The Central Bank of India’s Mumbai branch has issued a notice to seize and auction two properties in Shahjahanpur district of Uttar Pradesh, the actor’s birthplace. These include a house in Shahjahanpur town and agricultural land with ancestral homestead in Kundra village.
According to bank sources, the combined estimated value of these two properties is around Rs 3.19 crore. The property is scheduled to be sold on September 9 through online e-auction.
This huge debt originated in 2012, when Rajpal Yadav produced his directorial debut film ‘Ata Pata Lapata’. He took a loan from the Central Bank to finance the film. But he failed to repay the loan after the film failed miserably at the box office. As a result, the bank took possession of the mortgaged properties concerned and initiated legal action to recover the money.
Read more Read more India’s most expensive actress Alia!
Properties held in the name of Rajpal Yadav’s wife Radha Yadav and mother Godavari Yadav were also mortgaged as guarantors while taking the loan. As a result, the confiscation of the bank has affected the entire family.
Not only in Shahjahanpur, but also several other properties of the actor in Mumbai, recovery proceedings have been initiated, according to Indian media reports.
And Rajpal Yadav’s financial woes started in 2010, when he took a loan of Rs 5 crore from a Delhi-based company called Murali Projects for the construction of ‘Ata Pata Lapata’. The company has faced multiple check bounce cases with accrued interest due to its inability to repay the money, which has been in a legal battle under the Negotiable Instruments Act for years.
Last July this year, the Delhi High Court upheld Rajpal Yadav’s sentence in seven check bounce cases. However, the court reduced his jail term to three months by adjusting the amount previously deposited and ordered him to pay the rest of the compensation.
0%
0%
0%
0%
