Akkineni Nagarjuna is known for his openness in admitting what he does and how. In an interview probably he is the only celebrity to openly accept he is corrupt. He never again was asked such questions, but he did win Income Tax Samman awards, for paying the tax without dues. Even though he never was directly affiliated to any political party, he supported Lok Satta and welfare schemes by government.In the beginning of his career, his brother Venkat Akkineni used to take care of the Annapurna Studios and he concentrated majorly on his acting career. After, producing Sisindri and Ninne Pelladutha on his own on the production banner, he took over the reins of the studio from his brother. He also established Great India Entertainments to encourage new talent on his own devoid of Annapurna Studios banner.
After making several successful productions that were regarded highly profitable and worthy of the long standing production banner, Nagarjuna and Akkineni family members, decided to build non profit film school for aspirants and also developed the studio as per the international standards and expanded it further. All this lead to them taking some bank loans and one of the bank that has given the loan amount more than 20 crores, Andhra Bank, gave an open notice regarding Annapurna seven acres in the news papers.This lead to so many talking about Akkineni family attitude towards money and there were many direct and indirect news items about Nagarjuna and his ventures in different websites and news outlets too.
But for none of them any of the Akkineni family members or Nagarjuna responded and the issues have been forgotten. Recently, when bank released defaulters list, some people again tried to pinpoint on Nagarjuna and his family as the defaulters as there was no official announcement from any concerned party regarding loans and their repayment. Nagarjuna has been active on Twitter, providing any clarifications and interacting with specific people through the means. With rumours spreading, this time Nagarjuna cleared the sir through his tweets. He agreed that Annapurna Studios and properties, were used as guarantee for a loan from banks and stated that all loans were cleared earlier this year without a doubt. He also stated that the loans were taken to build new facilities at the Studios and neither he in personal capacity or the studio need to pay any amounts to banks.
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