As indicated by reports, Akkineni family owes Rs 32.3 Crore from Andhra Bank and Rs 29.7 Crore from Indian Bank. Notwithstanding perceives being issued to Nagarjuna, Venkat Akkineni, Supriya on January 2, 2014 to reimburse the credit and the investment, its said that there was no response. With this, powers of Andhra Bank and Indian Bank together marked and issued an open perceive on Saturday that the Studio has been seized with viable from March 20, 2015 and forewarned the outsiders from going into a business exchange over this property until further take note. The 7 Acres Studio is extremely prominent as the majority of the film shootings and tune shootings are being shot every day.
It is learnt that actor Nagarjuna and his family are considering to arrange with banks to settle the issue out-of-the-court genially. In the relatively recent past, Nagarjuna saw issues with GHMC tackling his N-Convention Center. Allegations were overflowing that the atcor infringed 1.12 Acre of Full Tank Level (FTL) and 2 Acre in Buffer Zone of Tammidi Kunta Cheruvu (lake) in Madhapur with a specific end goal to manufacture 10 Acre of N-Convention Center. Indeed the on-screen character was entangled in legitimate tangle as KCR-led government in no mind-set to excuse him. At long last, the issue has failed hard.