Actor Nagarjuna who is one of the top stars of Tollywood is in the news as his studios – Annapurna studios in Jubilee Hills has been seized by the powers. 7 sections of land of the Studios have been seized after Akkineni family neglected to reimburse Rs 62 Crore bank loan that includes 32.3 Crore from Andhra Bank and Rs 29.7 Crore from Indian Bank.
Reports recommend that there was no reaction from Nagarjuna for notices issued to him to reimburse the credit.
Authorities of Andhra Bank and Indian Bank jointly issued a public notice on March 20, that the Studio has been seized and forewarned the outsiders from going into a business transaction over the property.
The Studio is very popular with the majority of the film shoots taking place daily.