Arjun Rampal sued for failing to repay loan of Rs 1 crore

Arjun Rampal sued for failing to repay loan of Rs 1 crore

A lawsuit was filed against actor Arjun Rampal in the Bombay High Court for allegedly failing to repay a loan of Rs 1 crore. The actor took the loan in May 2018 from a company called YT Entertainment. However, the actor said that the loan has been repaid and the issue cleared. Rampal also added that he would make it clear in the court.

According to the lawsuit filed against Arjun Rampal through solicitor Anurup Dasgupta, the actor had promised to repay the loan in 90 days along with an interest of 12% per annum.  As mentioned in a report in Hindustan Times, Arjun Rampal had also given a post-dated cheque (PDC) of Rs 1 crore, which bounced when it was deposited on August 23. Following this, YT Entertainment filed a criminal complaint against Rampal in October.

Arjun Rampal was served a legal notice on October 8 and was asked to pay the amount along with the interest within fourteen days. A criminal complaint was filed against the actor at the Andheri metropolitan magistrate court on October 29 as he failed to comply with the earlier order.

As per the daily, Arjun Rampal paid Rs 7.5 lakh to the company on November 22. However, as the actor failed to repay the entire loan amount, the company filed a commercial suit against him for recovery of Rs 10,050,000 with interest after adjusting the amount of Rs 7.5 lakh that he had already paid.

Solicitor Dasgupta said that Rampal did not pay any amount apart from the Rs 7.5 lakh.