Sunday, Nov 23, 2014

Abhay Deol mortgages his flat, faces financial crisis after the debacle of debut production

Abhay Deol had to mortgage one of his flats in Juhu. Abhay Deol had to mortgage one of his flats in Juhu.
Written by Entertainment News Service , Edited by Sarika Sharma | New Delhi | Posted: March 24, 2014 1:38 pm

Bollywood actor and veteran actor Dharmendra’s nephew Abhay Deol is reportedly facing financial troubles following the debacle of his maiden production ‘One By Two’.

According to a report published in Mid-Day.com, Abhay Deol had to mortgage one of his flats in Juhu, Mumbai, in order to get the loan for his film ‘One By Two’. The mortgaged apartment located in Pandurang Co-operative Housing Society in Pandurang Wadi is worth Rs 2-3 crore. However, no specific details of the loan amount are available.

‘One By Two’ flopped at the box office, the film could not even earn anything from its music, because the producers had a tussle with the record label over contract issues.

Abhay Deol was also seen protesting with a ‘black eye’ against music company at the 20th Annual Life OK Screen Awards in January this year.

The film that was made at a budget of Rs 8 crore was produced by five other people. Confirming the issue, the actor told Mid-Day: “I have availed a loan for which I had to give papers for this property as surety.” A source close to Abhay Deol added, “He is currently residing in another house of his in Santacruz. He is redoing his Goa property.”

However, if he fails to repay the loan, the bank would declare his property as a Non-Performing Asset, seize it, and later auction it off.

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