Rajpal Yadav took out a loan from a bank in 2005, but he hasn’t been able to repay it, leading the bank to seal his property in Shahjahanpur. At the time of the sealing, Rajpal owed the bank Rs 11 crore. Known for his comic roles and loved by fans, Rajpal is now in the news for these financial problems rather than his film career.
Details About the Loan and Property
The property sealed by the Central Bank of India is located in Seth Enclave Colony, Shahjahanpur. Rajpal had mortgaged this property to get a Rs 3 crore loan in 2005 for a film project. Despite trying to fix the debt, the amount owed grew, forcing the bank to take action.
Production House Background
Rajpal set up a production company called Shri Naurang Godavari Entertainment Limited in 2005, using his parents’ names. His wife, Radha Yadav, officially owns the company. They produced a film starring Rajpal and the late Om Puri, along with local Shahjahanpur artists. However, financial problems became clear when Rajpal could not repay the loan.
Sealing Process Details
On August 8, the Central Bank of India’s team from Mumbai sealed Rajpal’s property discreetly. They locked the gate without involving local police or officials and even left the cooler running inside. The next Monday, there were no visible signs of the bank’s claim on the property. Manoj, the local branch manager, confirmed the sealing was done by a team from Mumbai, but the bank’s Bareilly DRM, SK Sabharwal, did not comment.
Previous Financial Troubles
Rajpal’s financial issues started in 2010 when he borrowed Rs 5 crore from Madhav Gopal Agrawal to finance the film Ata Pata Laapata. The film didn’t do well, leading to more financial problems and his debt grew to Rs 10 crore. A bounced check related to this debt even led to a short jail term. In May, Delhi’s Karkardooma Court ordered him to repay Rs 14 crore, highlighting his severe financial difficulties.
Rajpal’s situation shows how tough financial problems can be, especially in the entertainment industry. The sealing of his property is a major setback. It’s unclear how he will handle his growing debT, whether through negotiations with the bank or other financial measures.
