Tamil actor Jayam Ravi is facing a severe financial crisis as a private bank has put up his luxurious home in Injambakkam, Chennai for auction due to non-payment of a substantial loan. The actor had taken a large home loan from the bank, but failed to repay the monthly installments, resulting in a whopping ₹7.60 crore in arrears, including interest. Despite repeated reminders, Jayam Ravi didn't respond, prompting the bank to initiate auction proceedings under the SARFAESI Act.
The auction notice has sent shockwaves in Kollywood, with many netizens expressing concern about Jayam Ravi's financial troubles. The actor is already embroiled in a divorce dispute with his wife Aarthi, and now he's facing pressure from both the bank and a production company. A production company called Touch Gold Universal has alleged that Jayam Ravi took an advance of ₹6 crore for two films but opted out to work on other projects. The company has reportedly requested that the actor's house be confiscated.
Jayam Ravi's financial troubles have raised questions about his financial management and ability to repay loans. The actor's failure to respond to the bank's reminders has led to this crisis, and it's unclear how he will resolve the situation. The auction of his house is expected to fetch a significant amount, but it's uncertain if it will be enough to cover the outstanding loan amount.
The controversy surrounding Jayam Ravi's financial troubles has sparked a heated debate in Kollywood, with many industry insiders expressing surprise and concern about the actor's situation. As the auction of his house looms large, fans are eagerly waiting to see how Jayam Ravi will navigate this crisis and resolve the disputes with the bank and the production company.