Kochadaiiyaan's failure haunts Rajnikant: EXIM bank to auction superstar's property

New Delhi, Dec 27: There is a bad news for superstar Rajnikant's fan. Reportedly, a part of superstar's property will be auctioned by an Export-Import Bank of India.

The reason being Rajnikant's wife Latha Rajinikanth was the guarantor for the loan taken by Mediaone Global Entertainment.

The company had taken hefty loan of Rs 22 crore from the bank for making the movie Kochadaiiyaan. Unfortunately, the much touted movie flopped and now the bank is reportedly moving from pillar to post to recover their loan amount.

The Times of India writes, " As the bank officials could not recover the loan amount despite repeated attempts, the bank has issued print advertisements that it will auction Rajinikanth's property".

According to reports, a possession notice has been issued which says, "This amount is due as on July 17, 2014, together with further interest and liquidated damages as per contractual rates and other expenses/costs thereon with effect from July 18, 2014, till payment within 60 days from the date of receipt of the said notice. The borrower, in particular, and the public, in general, are hereby cautioned not to deal with the property/asset and any dealings with the property/asset will be subject to charges of Exim Bank for the amount outstanding as per its security documents, with further interest, costs, expenses and charges thereon with payment".

Meanwhile, a statement from Mediaone Global Entertainment said that when the entertainment company is in the process of repaying loan then calling upon the guarantor Latha Rajinikanth is not warranted.

Rajnikant and Deepika Padukone starer animated movie Kochadaiiyaan was directed by Rajni's daughter Soundarya. The film was released in May but didn't work well.

It seems Rajnikant is going through rough patches these days. Reportedly his recent released movie Linga is also not appealing people.

OneIndia News