Bank seals part of Rajpal Yadav’s property due to ₹11 crore loan default

HINDUSTAN TIMES (August 16, 2024)

A portion of actor Rajpal Yadav’s property in his native Shahjahanpur district of Uttar Pradesh has been sealed by a Mumbai bank due to non-repayment of a loan, an official reported on Wednesday. Yadav had mortgaged this property to secure a loan from the Mumbai branch of the Central Bank of India, according to Manish Varma, manager of the Shahjahanpur branch.

Sources close to Yadav revealed that he established Navrang Godavari Entertainment Limited — a production house named after his parents — in 2005 and took out a Rs. 5 crore loan from the Bandra Kurla Complex branch of the Central Bank of India in Mumbai. By the time the property was sealed, the 53-year-old actor owed the bank Rs. 11 crore. On August 8, a team from the Mumbai bank sealed part of Yadav’s house near the Dak bungalow.

Superintendent of Police Ashok Kumar Meena stated that he had no information about the sealing, as the bank did not seek local police’s assistance. Locals noted that the sealing was conducted so hastily that some electrical switches were left on.