Actor Arjun Rampal is in legal trouble. A case has been filed against Bollywood him in the Bombay high court (HC) in the case of non-payment of a loan of Rs 1 crore. The latest media reports suggest that Arjun had reportedly borrowed a total of Rs 1 crore from the company called YT Entertainment.
While doing so, he made a promise that he will pay the loan back within a time period of 90 days and with 12 per cent interest. However, he failed to pay it on the deadline and in fact didn’t pay it all. Later, after a few days, he gave the company a post-dated cheque (PDC) of Rs 1crore. However, the cheque bounced when it was deposited on August 23. YT Entertainment then filed a criminal complaint against Rampal in October last year.
Arjun Rampal got a legal notice under provisions of section 138 of the Negotiable Instruments Act, 1881 on October 8. In this notice, the actor was asked to pay Rs 1 crore with interest, within 14 days. But as he failed, a criminal complaint was filed against Rampal in the metropolitan magistrate court at Andheri on October 29.
In the month of November, he paid Rs 7.5 lakh to the company but as he failed to pay the rest of the loan amount, a commercial suit was filed for recovery of Rs 10,050,000 with interest.