Veteran Indian actor Rajpal Yadav is facing significant financial repercussions as the Central Bank of India has initiated the auction process for two of his properties in Shahjahanpur, Uttar Pradesh. The move aims to recover an outstanding loan amounting to ₹16.61 crore, alongside an additional ₹64,000, bringing his total reported debt to the bank to approximately ₹16.68 crore.
Properties Mortgaged for a Film Project
The properties, which include both a city residence and a village farmland in Shahjahanpur, are reportedly valued at around ₹3.19 crore. These assets were originally pledged as collateral for a loan Yadav secured to finance his directorial debut, the film 'Aata Pata Lapata'. The loan was initially taken from businessman Madhav Gopal Agrawal, with the Central Bank of India now pursuing recovery.
According to reports, the agreement for the loan stipulated repayment regardless of the film's box office performance or other hurdles. Yadav also provided a personal guarantee for the transaction, which was explicitly defined as a loan, not an investment.
Guarantors and Upcoming Auction
Further complicating matters, properties belonging to Yadav's wife, Radha Yadav, and his mother, Godavari Yadav, were also pledged as guarantors for the loan. Consequently, the bank has proceeded with action against these properties as well. The online auction for the Shahjahanpur assets is scheduled for September 9.
This development comes amid ongoing legal and financial troubles for the actor, including an unresolved cheque bounce case. There are also unconfirmed reports suggesting that the process to auction some of Yadav's other properties located in Mumbai is currently underway, though no official statements have been made regarding these additional actions.
Actor's Silence and Recent Work
As of now, Rajpal Yadav has not issued any official statement concerning the auction notice or the substantial outstanding loan. On the professional front, the actor was recently seen in Ahmed Khan's 'Welcome to the Jungle' and is slated to appear in Priyadarshan's upcoming film 'Haiwaan', which features Akshay Kumar and Saif Ali Khan in lead roles.