Hyderabad : Telugu Actor Nagarjuna who is busy shooting for multi starrer with Karti received huge shock from banks. According to sources on Saturday, officials from Andhra Bank and Indian Bank seized 7 acre,25 gunta stretch in his Annapurna Studios in Jubilee Hills.
Bank authorities seized the property in a joint notice following non repayment of loan of 62 crore -Andhra Bank (`32.3 crores) and Indian Bank (`29.7 crores). It pasted notice warning third party not to enter into any business daels with the family.
The notice read “Despite issuing notices to Nagarjuna, Venkat Akkineni, Supriya, Y Surendra, Naga Suseela, and Venkat Roddam on January 2, 2014 to repay the loan and the interest, there was no response. We hereby are declaring that this property measuring 7 acres and 25 guntas has been seized effective 20 March 2015,“
A source close to Nagarjuna added “The studio authorities are negotiating with the banks to resolve the issue in an amicable way to get a positive outcome.“
Annapurna Studios was built in 1976 and is located in Jubilee Hills, Hyderabad. Nagarjuna is also a major share holder in Telugu satellite channel Maa TV.
