The
Karanataka
High
Court
has
issued
a
stay
order
against
the
auction
of
SV
Rajendra
Singh
Babu's
RT
Nagar
residence.
The
director
had
taken
a
loan
amount
of
Rs.
1.5
crore
from
the
State
Bank
of
India
in
2007.
But
the
bank
had
recently
decided
to
sell
his
house
in
RT
Nagar,
when
ha
failed
to
pay
the
installments.
Following
the
the
banks'
decision,
Rajendra
Singh
Babu
had
approached
the
Karnataka
High
Court
and
requested
it
to
stop
the
auction.
After
looking
into
his
appeal,
the
Court
has
sent
a
notice
to
the
SBI
to
stop
the
auction
process.
Meanwhile,
it
has
also
warned
Babu
to
pay
Rs.
30
lakhs
before
August
06.
Talking
about
the
High
Court
notice,
Rajendra
Singh
Babu
admits
the
reports
of
auctioning
his
house
over
unpaid
installments.
He
says
that
he
has
assured
the
Court
to
pay
Rs.
30
lakhs
within
August
06.
However,
it
should
be
recalled
here
that
his
movie
Bhimoos
Bang
Bang
Kids,
which
has
competed
its
shooting
more
than
a
year
back,
is
delayed
over
some
financial
problem.