Lucknow/Shahjahanpur: The Central Bank of India has sealed Bollywood actor Rajpal Yadav’s property located in Seth Enclave Colony, near Kachhari, Shahjahanpur, over unpaid loans. Yadav had mortgaged this property to secure a loan of Rs 3 crore for producing a film.
Yadav established a production house named 'Shri Naurang Godavari Entertainment Limited' under the names of his parents, with the property mortgaged to the bank. The production house, officially owned by his wife Radha Yadav, was behind the movie in which Yadav and late actor Om Puri played leading roles. The film also featured local artists from Shahjahanpur.
Reports suggest that Yadav had taken a loan from the Central Bank of India’s Mumbai branch at Bandra Kurla Complex. After failing to repay, the loan amount swelled to Rs 11 crore. On August 8, the bank’s team, without involving local police or officials, sealed the property.
The sealing was discreet, and the team even placed a lock on the gate without turning off the cooler running inside the building. Interestingly, on Monday, there was no sign of any official notice or banner declaring the bank's claim over the property.
Local police were not involved
Local police were not involved in the sealing operation, despite the bank’s earlier request for security support. Manoj, the manager of the local branch of the Central Bank of India, confirmed that the recovery team from Mumbai had carried out the sealing.
However, the bank’s Bareilly DRM, SK Sabharwal, declined to comment on the matter.
Rajpal Yadav in jail
Yadav's troubles seem to be unending. In 2010, he borrowed Rs 5 crore from Madhav Gopal Agrawal, the director of Murli Projects Private Limited, to make the film Ata Pata Laapata.
When he failed to repay the amount, the debt increased to Rs 10 crore. Due to a bounced check in this matter, he was even sent to jail. In May, Delhi's Karkardooma Court ordered Yadav to repay Rs 14 crore.
