Tollywood producer Kiran Kumar Koneru was arrested by Banjara Hills Police yesterday following the court orders. Apparently Kiran took loan of Rs.1 crore from Prasad Labs financiers in the year 2011 and then made film ‘Bejawada’ with Naga Chaitanya. But the film failed to score a hit at box office and resulted in huge losses to Kiran.
When the financiers approached Kiran to pay back the amount, he overlooked it. And so the financiers have approached the court seeking refund from the producer. Kiran even ignored the court summons. Hence, the court ordered the police to arrest him and produce before it. However, soon after his arrest, Kiran fell ill and was admitted in a private hospital.