K.Balachander's homes and office under threat of auction! Exclusive report from Kavithalaya Productions

13 February 2018     Comments  


K.Balachander's homes and office under threat of auction! Exclusive report from Kavithalaya Productions


Veteran director K Balachander’s Kavithalaya Productions’ office along with his two flats in Mylapore are under the threat of being auctioned off, due to non-repayment of a loan taken from UCO bank. In a popular daily, UCO bank has given an advertisement that two properties worth Rs 136 crore of late director and producer K Balachander has been put up for auction.

Responding to this statement, Balachander's production house Kavithalaya Productions has said that the properties in question were pledged to avail a loan from a bank and it was a business decision.

Explaining that the auctioning of director’s properties was only a business decision, a spokesperson from Kavithalaya productions told, “KB’s house and office have not been pledged. Like any other business, our production house too took a loan. A substantial amount has been repaid and a process of negotiation for a one-time settlement is under way for the rest.”



Tags : K.Balachander's office ,Kavithalaya Productions

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