Nag says he’s not a defaulter

Actor Akkineni Nagarjuna took to his social networking account to clarify that he is not defaulter. He stressed that neither he nor his studio owed money to any bank. "For the few who may believe so neither me nor annapurna studios owe any money to any banks!!FY," (sic) he tweeted. Nag admitted that his studio borrowed loan for the development of Annapurna Studios in Hyderabad but has repaid them promptly.

"It is true we took a loan frm banks to build new film facilities at annapurna studios earlier. ALL LOANS HAVE BEEN CLEARED EARLIER THIS YEAR,” (sic). Last year, when Andhra Bank featured Nag's name among defaulters, the actor came in for severe criticism. His clarification comes in the wake of growing social media troll labeling the actor as a bank defaulter after PM Narendra Modi announced the demonetisation of high value currency last week.