Apart from issuing notices to Nagarjuna Akkineni’s Annapurna Studios for failing to pay back loans to the tune of Rs 37 Crore, Andhra Bank has even filed a police case against the Board of the studio.
Andhra bank accused Akkineni Nagarjuna, Supriya Yarlagadda, Venkat Akkineni, Nimmagadda Prasad and Naga Suseela Akkineni, the Board members of Annapurna Studios, in its compliant. The authorities of the bank revealed that Annapurna Studios, apart from owing Rs 37 Crore to them, owes loans to the tune of Rs 100 crore to banks like Axis Bank and Indian Bank.
Apart from issuing the notices, the bank is also taking the special powers and provisions issued by the RBI to force the defaulters to clear the loans. Nag is in the deep soup now.
Nagarjuna’s upcoming movie “Soggade Chinni Nayana” audio releasing on 25th of this month and the film might hit the screens on January 15, 2016.