The bank has seized the properties of Rajinikanth wife Lata. The bank had issued a notice for auction after the production company owned by the South Indian superstar failed to clear the loan taken from the bank to produce film ‘Kochadaiyaan’.
Rajinikanth’s eldest daughter Soundarya is the producer of the film, who presented her father and mother as guarantee while taking loan from the bank.
The film produced with the budget of 125 crores had flopped at the box office. The production company Media One Global Entertainment had taken loan of 20 crores for production of the 3D film.
The company had failed to clear the loan after the film that released on May this year didn’t perform well. According to the bank, the company owes 22.21 crores to the bank. The bank published a notice on a newspaper and announced capture of the property and ordered not to buy or sell the property. The company, however, has said that it will clear the loan soon.
