Hindupur MLA and actor Nandamuri Balakrishna's second son-in-law Sri Bharat received a shock from Karur Vysya bank. He had taken few loans using lands in both Bhimili and Gajuvaka from the Abids branch of Karur Vysya Bank. But became fail to make repayments in time. According to the latest update, the bank has served notices to seize the assets of Bharat's father Pattabhi Rama Rao and other family members. The loan amount tunes up to Rs 124.39 Cr.
Going into details, Bharat’ company took loan from Karur Vysya bank keeping the surety of lands in Gajuwaka and Bhimili mandals. However the company failed to make repayment despite repeated notices. Though Bank had sent multiple notices to Bharat on the same but he did response to Bank officials. Now, the banks have issued the notices to seize both the lands on the account of failure of payment.