Actor Arjun Rampal sued for failing to pay back ₹1 crore loan

According to the lawsuit filed through solicitor Aurup Dasgupta, Rampal had promised to pay back the loan within 90 days, with an interest of 12% per annum.

A lawsuit was filed against actor Arjun Rampal in the Bombay high court (HC) after he allegedly failed to pay back a loan of ₹1 crore which he had taken from YT Entertainment in May 2018.

Actor Arjun Rampal says that the matter relating to him defaulting on a loan payment has been cleared. (HT File)

However, the actor said the issue has been cleared. “The issue has been cleared and the transaction has happened,” said Rampal, adding that he would make it clear in court when the lawsuit came up for hearing.

According to the lawsuit filed through solicitor Aurup Dasgupta, Rampal had promised to pay back the loan within 90 days, with an interest of 12% per annum.

He had also given a postdated cheque (PDC) of ₹1crore. But when the cheque was deposited on August 23, it bounced. YT Entertainment then filed a criminal complaint against Rampal in October.

The actor was served a legal notice under provisions of section 138 of the Negotiable Instruments Act, 1881 on October 8, where he was asked to pay ₹1 crore with interest, within 14 days. But, as he failed to comply, a criminal complaint was filed against Rampal in the metropolitan magistrate court at Andheri on October 29.

Rampal then paid ₹7.5 lakh to the firm on November 22, but as he failed to pay the entire loan amount, a commercial suit was filed for recovery of ₹10,050,000 with interest, on Tuesday, after adjusting the ₹7.5 lakh he had already paid.

Dasgupta has refuted Rampal’s claim and said the actor has not returned any money apart from ₹7.5 lakh.