OMG! Rajpal Yadav and his Wife Are Convicted of Rs. 5 Crore Loan Default
Here's everything you need to know about this case
A Delhi court convicted comedy actor Rajpal Yadav and wife Radha Yadav for failing to repay a loan of Rs 5 crore which the actor had taken from MG Agarwal, a Delhi-based businessman, in 2010. Pronouncing all the accused guilty of all the charges, additional chief metropolitan magistrate Amit Arora convicted Yadav, his wife and his company under Section 138 of the Negotiable Instruments Act.
He took the loan for making his directorial debut Ata Pata Lapata. The court has set April 23 to pronounce the quantum of punishment. Rajpal will get a jail sentence. But it remains to be seen whether he will get bail.
In 2010, Yadav and Agarwal, owner of Murli Projects, had executed an agreement between them where a loan of Rs 5 crore was given to the actor and his company Shree Naurang Godavari Entertainment. The actor took the loan for his film Ata Pata Lapata, which was released in 2012. The film flopped at the box office, leaving the actor in financial troubles. The court had earlier given undertakings to Yadav where he had agreed to repay the amount to the lender when he was summoned on several occasions. In 2015, Yadav paid back Rs 1.58 crore to Agarwal and promised that he would pay the remaining amount in a month. But the actor had failed to do so.
In 2013 December, Yadav had spent four days in Tihar jail for submitting a false affidavit in the case. Later, a division bench of Delhi High Court had suspended the sentence on his appeal.
Seems like the actor is in some serious trouble this time.