On August 8, the Central Bank of India sealed Bollywood actor Rajpal Yadav's property in Shahjahanpur due to unpaid loans amounting to over Rs 11 crore. The property, located in Seth Enclave Colony near Kachhari, Shahjahanpur, had been mortgaged by Yadav to secure a loan of Rs 3 crore for producing a film. Despite efforts to resolve the debt, the outstanding amount escalated over time, leading to the bank's decisive action.
Rajpal Yadav had established a production house named Shri Naurang Godavari Entertainment Limited under the names of his parents, with the property being mortgaged to the bank. The production house, officially owned by his wife, Radha Yadav, was behind a movie featuring Yadav and the late actor Om Puri in leading roles. The film also showcased local artists from Shahjahanpur, adding a regional flavor to the production. However, the financial strain became apparent when Yadav failed to repay the loan, which had been taken from the Central Bank of India's Mumbai branch at Bandra Kurla Complex.
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The bank's actions on August 8 were carried out discreetly. Without involving local police or officials, the team sealed the property by placing a lock on the gate, all while ensuring the cooler inside the building remained running. Interestingly, by the following Monday, there were no signs indicating the bank's claim over the property—no banners or official notices were displayed. The decision to proceed without police involvement, despite earlier requests for security support, was confirmed by Manoj, the manager of the local branch of the Central Bank of India. He acknowledged that the recovery team from Mumbai executed the sealing, though the bank's Bareilly DRM, SK Sabharwal, declined to comment on the matter.
Rajpal Yadav's financial woes are not new. His troubles date back to 2010 when he borrowed Rs 5 crore from Madhav Gopal Agrawal, the director of Murli Projects Private Limited, to finance the film Ata Pata Laapata. Unfortunately, the film did not perform as expected, and Yadav's failure to repay the loan led to a series of financial difficulties. The debt eventually ballooned to Rs 10 crore, and due to a bounced check related to this debt, Yadav was even sent to jail.
In May, Delhi's Karkardooma Court intervened, ordering Yadav to repay Rs 14 crore to settle his outstanding obligations. This ruling highlighted the severe financial distress that Yadav has been grappling with, further complicating his attempts to stabilize his finances.
Yadav's situation underscores the precarious nature of financial dealings in the entertainment industry, where the success of a project can significantly impact the financial stability of those involved. For Yadav, the sealing of his property in Shahjahanpur is a stark reminder of the consequences of unpaid loans, particularly in an industry where financial backing is often crucial for success.
As of now, it remains unclear what steps Yadav will take to address his mounting debts. The sealing of his property is a significant setback, but it also represents a critical juncture in his efforts to regain financial stability. Whether through negotiations with the bank or alternative financial arrangements, Yadav will need to navigate this challenging period with caution and strategic foresight.
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