Nag's Annapurna Gets Bankers' Blow

Published on March 24, 2015 19:32:19 PM
Cinema
In a major blow to actor-producer Akkineni Nagarjuna, Annapurna Studios owned by him received bank notices over non-payment of Rs 62 crore.

Andhra Bank and Indian Bank financially assisted the 7 Acres Studios, also owned by the actor and located adjacent to the Annapurna Studios. The banks were purportedly not receiving their payment over the last couple of months and on Monday, they issued notices to authorities of the Studios.

Rumors spread out that the bank officials have seized the 7 Acres Studios, but the Akkineni family members and support staff denied all the reports. According to one of the staff, the planned shootings and post-production works at the studio are progressing as per schedule.