News Desk |
Bollywood actor Rajpal Yadav has been sent to jail for three months after he failed to repay the loan of INR 50 million. The loan was taken by his company for the film which it failed to produce. Justice Rajiv Sahai Endlaw at Delhi High Court ordered the Chup Chup Ke star to be taken into custody and kept in Tihar Jail.
A Delhi-based company Murli Projects filed a case against Yadav’s company Shree Naurang Godavari Entertainment for non-payment of the loan. Yadav’s entertainment company borrowed the funds back in 2010 to make his directorial debut, “Ata Pata Lapata”.
Two years later on 8th August 2012, Rajpal Yadav agreed to pay the amount of INR11, 10, 60,350 including the principal amount and interest. But there erupted conflict between the two parties and the matter reached the High Court where the actor agreed to pay the INR 7 crore as an undertaking.
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Followed the agreement in the High Court, all the subsequent payments issued by Yadav were dishonored due to “insufficient funds”. Rajpal Yadav, in his statement, in Court denied borrowing any money from the complainant and said that the complainant had invested money in his film.
He also asserted that the cheques were given as a security and hence was received as an investment and not loan. The Court, however, convicted him, his wife, and the company. During his conviction, Yadav said, “There are three things. Either somebody invested INR5 crore or somebody loaned this much money.
The third thing is that Rajpal Yadav was involved in a fraud. Only one of these three things can be right. Please let me know which of these I am getting punished for.” Yadav says Madhav Gopal is like family to him and he trusted him. “But they made me sign papers that I didn’t read. My only fault was that I trusted their words,” he says.
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The Court, however, rejected his claims and said that the actor was conversant in English and claimed his argument that he signed the papers without reading them as “moonshine and frivolous in nature”.
“Actually, I think these Rs 5 crore harmed my wealth, career, and reputation. I am still ready to pay them. ‘Mujhe khula chhodo, main chheh mahine mey chuka dunga’(Let me free and I will pay off in 6 months),” the actor said to Court.
The legal counsel of Madhav Gopal’s company, SK Sharma said Rs 5.crore were given as the loan and not the investment in the film. “It was written in the agreement that we are not concerned whether the film works or not, but the principal amount should be returned with interest. It wasn’t a joint venture,” Sharma said.
“All of them were dishonored because of insufficient funds, so we filed eight complaints against him. We also filed a criminal case against his company and that suit is also decreed,” said Sharma in Court proceedings.