Actor Rajpal Yadav has reportedly suffered another legal and financial setback, with two of his properties in Shahjahanpur, Uttar Pradesh, set to be auctioned over an outstanding loan of more than Rs 16.61 crore. The latest development comes amid the actor's ongoing cheque bounce case.
Bank issues auction notice for Rajpal Yadav's properties
According to NDTV, the Central Bank of India, Mumbai, has issued auction notices for two properties owned by Rajpal Yadav, one located in Shahjahanpur city and another in a nearby village.
The report states that the actor owes the bank Rs 16.61 crore, while the two properties earmarked for auction are collectively valued at around Rs 3.19 crore. The online auction is scheduled to take place on 9 September.
Loan reportedly taken to finance directorial debut
Rajpal Yadav had taken the loan to finance his directorial venture, Aata Pata Lapata. Following a default in repayment, the bank took possession of the mortgaged properties and initiated recovery proceedings.
Bank records cited in the report indicate that the properties include agricultural land and a residential house in a village in Shahjahanpur, along with another property in the city.
Wife and mother named as guarantors
The report further states that properties belonging to Rajpal Yadav's wife, Radha Yadav, and his mother, Godavari Yadav, had also been pledged as guarantees for the loan.
Based on those guarantees, the bank has reportedly proceeded with action against the secured assets. NDTV added that the process of auctioning some of the actor's properties in Mumbai is also said to be underway.
No response from the actor so far
As of now, Rajpal Yadav has not issued any official statement regarding the auction notices or the outstanding loan amount. The bank has also not announced any change to the scheduled auction process.
Rajpal Yadav's upcoming films
On the professional front, Rajpal Yadav was recently seen in Ahmed Khan's Welcome to the Jungle. He is next expected to appear in Priyadarshan's Haiwaan, which stars Akshay Kumar and Saif Ali Khan in the lead roles.
