Rajpal Yadav's loan default reached Rs 16.61 crore, prompting fresh bank action.
Two Shahjahanpur properties worth Rs 3.19 crore face auction over unpaid dues.
Family says repayment talks continue before the scheduled September 9 online auction.
Rajpal Yadav's Ancestral Properties Face Auction Over Rs 16.61 Crore Loan Default
His family says repayment talks with the bank are still underway.
Summary
Rajpal Yadav's loan default case has taken a fresh turn after the Central Bank of India issued an attachment notice for the actor's ancestral properties in Shahjahanpur, Uttar Pradesh. According to the bank, the outstanding dues have reached Rs 16.61 crore, and if the amount is not cleared within the stipulated period, the mortgaged properties will be auctioned. The latest development comes just weeks after the actor's legal troubles resurfaced in a long-running cheque bounce case linked to his directorial debut, Ata Pata Lapata.
Central Bank issues attachment notice
According to reports, the bank has pasted an attachment notice on Rajpal Yadav's ancestral house in Kundra village and another property in Shahjahanpur. The combined value of the two assets is estimated to be around Rs 3.19 crore. If the dues remain unpaid, the properties are scheduled to be auctioned online.
Speaking to Dainik Bhaskar, Rajpal's elder brother Shripal Yadav said the issue was not new and maintained that discussions with the bank were continuing. It was stated by him that the matter was expected to be resolved soon and that there was currently no situation requiring an auction of the properties.
Loan linked to Ata Pata Lapata
According to PTI, Rajpal Yadav had established Navrang Godavari Entertainment Limited in 2005 in his parents' names and borrowed Rs 5 crore from the Central Bank of India's Bandra Kurla Complex branch to finance Ata Pata Lapata. After the film underperformed, the loan reportedly went into default and interest accumulated over the years.
The report further stated that several properties in Shahjahanpur, including assets belonging to his wife Radha Yadav and mother Godavari Yadav, had been mortgaged as security.
Central Bank manager Anuj Verma confirmed that a fresh notice had been affixed to the ancestral property. It was also recalled by him that a similar action had been taken nearly two years ago before a repayment understanding was reached with the actor.
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The auction is scheduled for September 9 if the outstanding dues are not cleared.
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