Big Blow to King Nagarjuna

By - March 23, 2015 - 11:59 AM IST

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Nagarjuna is a shrewd businessman besides a star hero. Moreover, after the demise of the legendary ANR, he has become the face of all the businesses of the Akkineni family.

After the bifurcation, his businesses have somehow been under the scanner and the newly formed Telangana government is not sparing any violations, especially with regards to land encroachments in and around the city of Hyderabad.

Nagarjuna has recently settled an encroachment issue of his N Convention center and now latest reports reveal that Nag’s Annapurna 7acres has been seized by the bank authorities. As per sources, the Akkineni family owes about Rs 32.3 crores to Andhra bank and Rs 29.7 crores to Indian bank and in spite of repeated reminders, they have failed to repay the loan.

Annapurna 7acres is a crucial place for film shootings and talks are already on with the bank officials to call off the seize orders. Let’s see if Nag’s efforts will turn any fruitful!

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