Nagarjuna's Annapurna Studios had defaulted on loan payments last year.

Telugu star Nagarjuna lauds PM on demonetisation gets trolled for bank loan default
Flix Demonetisation Friday, November 18, 2016 - 12:03

Many stars from film industries across the country have congratulated PM Narendra Modi on the demonetisation move. However, public anger about its execution is growing by the day, with long queues at ATMs that eventually run out of cash. Questions on how effective the move will be in catching the big fish are also being asked.

Tollywood superstar Nagarjuna Akkineni had tweeted his enthusiasm for demonetisation on November 9.


He received a reply from the PM's Twitter handle on the same day.

However, a Twitter user accused Nagarjuna of not repaying bank loans taken for Annapurna Studios which is owned by the actor. The user shared the link of a 2015 news report which said the actor owed Rs 32.3 crores to Andhra Bank and Rs 29.7 crore to Indian Bank. 

An argument broke out, with fans of the actor defending him. However, Nagarjuna tweeted on Thursday that the loans had been cleared earlier this year.

While some lauded the actor for clearing the air, others pointed out that this meant he had indeed been a loan defaulter.

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