S Narayan held for not repaying loan worth 10 crore

Actor-director S Narayan was arrested following an alleged accusation by IDBI bank of not repaying a loan worth Rs 10 crore. He was granted bail on Saturday. The warrant was issued by the Debt Recovery Tribunal (DRT).

Bengaluru: Actor-director S Narayan, who was arrested by police on a warrant issued by the Debt Recovery Tribunal (DRT), got bail on Saturday.

Reports said that Narayan was arrested by the police at his residence in West Bengaluru on Friday.

The actor was arrested after IDBI bank allegedly accussed him of not repaying loan worth Rs 10 crore.

Sources revealed that Narayan initially took a loan of Rs 3 crore from the bank which later mounted to Rs 10 crore. After he failed to refund the amount even after recieving several notices, the bank officials filed a case against him in Basaveshwara Nagara police station.