Bollywood actor Arjun Rampal is in legal trouble for non-payment of dues.
Apparently, the actor had taken a loan of Rs 1 crore with 12 per cent interest per annum by the YT Entertainment and promised to pay the money back within 90 days.
The company is also into funding the films.
Rampal was given the loan on a rate lower than what most people in the industry are usually given. According to reports, the company filed a criminal case against him for not paying the amount on time.
He had to pay the loan back in three months time. On not paying the loan the company demanded Rs one crore with 12 per cent interest.
The post-dated cheque given to the company by the actor bounced and now they have filed a criminal complaint against Rampal under the Negotiable Instruments Act for the recovery of the money.
It is being said the company will make earning of Rampal he is receiving from his films conditional which is they will have the right over any amount being paid to the actor till their dues are recovered.
Arjun Rampal will face one of the most difficult situations if his income is made conditional as he is working for quite a few films.