Hyderabad: Tollywood star Nagarjuna faces big blow from Andhra Bank and the bank authorities issued notices to Annapurna Studios for failing to clear loans.

The popular star of Tollywood Nagarjuna has received a big blow from the popular bank. As per latest updates, Andhra bank has issued legal notices to Nagarjuna and his Annapurna Studios. Akkineni Nagarjuna is in for a huge shock as Andhra Bank issued notices to Nagarjuna owned Annapurna Studios for failing to clear Rs 37 crore, calling the studios an intentional nonpayer. Apparently, the bank even filed a case against Annapurna Studios.

In its case, the Andhra Bank accused the MD of Annapurna Studios Nagarjuna, Supriya Yarlagadda, Venkat Akkineni, Nimmagadda Prasad, Nag’s sister Naga Susheela. Speaking to the media, the bank’s authorities said that Annapurna Studios is a shirker in paying back to several banks to the tune of Rs 100 crore.

While Annapurna Studios’ default debt money is Rs 37 crore, the studio also has not cleared its loans to other banks such as Axis Bank and Indian Bank. Apart from issuing the notice and filing a complaint, the bank is currently taking the special powers and provisions specified by the RBI to make the debtors clear the loans.