Lawsuit filed against Arjun Rampal for failing to repay Rs 1 crore loan
Arjun Rampal has fallen in deep trouble after allegedly failing to repay the loan of Rs 1 crore which he had taken from YT Entertainment in May 2018. In this regard, a lawsuit was filed at the Bombay High Court for recovery of Rs 10,050,000 with interest. According to the lawsuit, Rampal had promised to pay the loan back within 90 days, with an interest of 12 per cent per annum.
Coming out in his own defence, Arjun Rampal said that the issue has been cleared. He said, “The issue has been cleared and the transaction has happened and I will make it clear in court when the lawsuit comes up for hearing.”
YT Entertainment Limited had in October 2018 filed a criminal case against the actor over non-payment of Rs. 1 crore loan that he had taken. The loan was to be repaid within a period of 90 days but the post-dated cheques that were allocated by the actor did not clear on the said date. Therefore, the company had filed a case against the actor under ‘Negotiable Instruments Act’ for the recovery of the money.
On the work front, Rampal will be soon seen depicting the role of a pilot in his digital debut titled ‘The Final Call’. The film is an adaptation of renowned author Priya Kumar’s book ‘I Will Go With You’, and is slated to release on Zee5 on February 22.