When
it
comes
to
following
the
rules
of
the
land,
no
big
wig
is
an
exception.
Sometime
back
Nagarjuna
Akkineni
was
in
the
headlines
when
he
had
faced
troubles
with
GHMC
taking
on
N
Convention
Centre.
He
was
alleged
for
encroaching
the
land
of
full
tank
level
and
2
acres
of
land
from
a
lake.
But
the
issue
was
sorted
out
when
KCR's
governament
and
Nagarjuna
came
on
terms.
Now,
he
has
once
again
made
place
in
the
wrong
news.
Nagarjuna's
7
Acre
studio
was
seized
by
the
authorities
after
Akkineni
family
failed
to
repay
Rs
62
Crore
bank
loans.
According
to
reports,
Akkineni
family
owes
Rs
32.3
Crore
from
Andhra
Bank
and
Rs
29.7
Crore
from
Indian
Bank.
Despite
notices
being
issued
to
Nagarjuna,
Venkat
Akkineni,
Supriya,
Y
Surendra,
Naga
Suseela,
and
Venkat
Roddam
on
January
2,
2014
to
repay
the
loan
and
the
interest,
it
is
said
that
there
was
no
response.
The
7
Acres
Studio
is
very
popular
as
most
of
the
film
shootings
and
song
shootings
happen
here.
Nagarjuna
and
his
family
are
in
talks
with
bank
authorities
and
are
trying
to
settle
down
the
issue
as
soon
as
possible,
since
it
is
a
matter
of
prestigious
studio.
With
this,
authorities
of
Andhra
Bank
and
Indian
Bank
jointly
signed
and
issued
a
public
notice
on
Saturday
that
the
Studio
has
been
seized
with
effective
from
March
20,
2015
and
cautioned
the
third
parties
from
entering
into
a
business
transaction
over
this
property
until
further
notice.