Now Reading: Rajpal Yadav faces auction of ancestral property over Rs 16.61 crore loan
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Rajpal Yadav faces auction of ancestral property over Rs 16.61 crore loan
Rajpal Yadav faces auction of ancestral property over Rs 16.61 crore loan
The Central Bank of India has initiated recovery proceedings against actor Rajpal Yadav's ancestral property in Uttar Pradesh over an unpaid loan of Rs 16.61 crore. The bank has issued an attachment…
The Story in Brief
The Central Bank of India has initiated recovery proceedings against actor Rajpal Yadav's ancestral property in Uttar Pradesh over an unpaid loan of Rs 16.61 crore. The bank has issued an attachment notice and warned that the mortgaged properties could be auctioned online on September 9 if the dues are not cleared, NDTV reports.
The loan of Rs 5 crore was taken in 2005 for Yadav's directorial debut Ata Pata Lapata. With accumulated interest, the outstanding amount has risen to Rs 16.61 crore. The development follows a Delhi High Court order sentencing Yadav to three months' imprisonment in a cheque bounce case linked to the same loan. The actor's family says talks with the bank are ongoing to resolve the issue.
The Indian Opinion
The narrative that banks unfairly target struggling actors ignores that this loan was taken 20 years ago and the property was mortgaged. On the other hand, dismissing the auction as just another celebrity case overlooks years of legal proceedings and a court sentence. A fair test will be whether Yadav's family can settle before September 9, given the property's combined value is only around Rs 3.19 crore, far less than the debt.
Sources (3): ndtv.com, ndtv.com (2), bollywoodlife.com
This story was synthesised by AI from the 3 sources linked above.
Updated: this story now draws on 3 sources.
