Rajpal Yadav's Shahjahanpur Property Sealed Over Bank Loan Default

Mumbai bank has sealed Rajpal Yadav's property in Shahjahanpur due to non-repayment of a Rs 5 crore loan, which has accumulated to Rs 11 crore. The actor had mortgaged his ancestral property while setting up a production house. The sealing was done in haste, local sources report.

Mumbai bank has sealed the Shahjahanpur property of film actor Rajpal Yadav over failure to repay a loan, an official confirmed on Wednesday.

Manish Verma, manager at Central Bank of India's Shahjahanpur branch, revealed that Yadav had secured the loan by mortgaging his ancestral property.

Sources close to Yadav said he had established 'Navrang Godavari Entertainment Limited' in 2005, borrowing Rs 5 crore from the bank's Bandra Kurla Complex branch. By the property's sealing on August 8, the debt had risen to Rs 11 crore. The building was sealed hurriedly without even switching off electrical appliances, locals noted.

Superintendent of Police Ashok Kumar Meena stated he was unaware of the property's sealing.

(With inputs from agencies.)