After coming with a string of impressive hits like Rohit Shetty’s Golmaal series, Imtiaz Ali’s Jab We Met and Ajay Devgn starrer Bol Bachchan, production house Ashtavinayak Cine have landed themselves in trouble. The popular production house has lost three of its offices including the crucial Andheri (Mumbai) one.
According to a report by a leading daily, the bank owed nearly 30 crores to the State Bank of India (Malad Division). After repeated faltered payments, the Bank took the decision to confiscate three of their offices.
Couple of months ago, the bank had acquired symbolic possession of the properties mortgaged. The procedure for this was in order since November when SBI had actually asked for police help on the issue.
The news report also stated that the company head kept buying time from the Bank. But after repeated pestering from the Bank when the company head refused to relent and pay up the outstanding amount, a few cops came and took possession of the property.
The VIP plaza in which the offices were located were relieved by the move of the SBI after they were told that the 48 lacs’ amount that was pending to the society will be cleared as well.