Bank to seize Ashtavinayak office

12 Nov 2013

One of Bollywood's leading production houses, Ashtavinayak, known for films like the Golmaal series, Jab We Met, Dabangg, Rockstar and others seems to have landed in a spot of trouble. Apparently, a couple of months ago,State Bank of India took symbolic possession of all the properties of the production house, which had taken a loan of Rs. 29 crores from them, but had defaulted on payments.

After repeated attempts to recover the said amount, the bank now plans on taking possession of Ashtavinayak's properties in VIP Plaza, opposite Infinity Mall, Andheri. This move to take possession of the properties comes after the Chief Metropolitan Magistrate of Esplanade passed the order.

Adding to this, earlier this year, head honcho of Ashtavinayak, Dhillin Mehta, was detained by the Rajasthan police, for pending dues amounting to Rs. 1.58 crores to Jaipurbased line-producer, Surender Kalra.Also the production house owes Eros International a sum of Rs. 8 crores, while financier Raju Shah had even taken the production house to court over dishonouredcheques worth Rs. 36 crores.