It’s not that hard to figure out who the blind item below is talking about. Since last year, IT raids have been happening out of nowhere for famous people. Recently, there was a surprise IT raid at Bollywood’s top production houses. It happened suddenly but now it seems these IT raids have been thoroughly planned as the IT people were quietly investigating this famous bank. Either the investigation triggered the IT raid or the IT raid triggered an investigation on the bank. The bank was already under the scanner since last year.
Since this bank was a private lender, a lot of Bollywood producers have used its facilities to their advantage. The bank was known to lend money to big companies that couldn’t get its loan approve anywhere else. It’s not the rich and famous that suffer when something like this happens, it’s always the common men!
If this bank was smart, it would have called KebabJo and demanded its money after seeing the films that his production house has been producing lately!
The man in charge of the bank is no stranger to Bollywood’s people, as you know it happens with anyone with money and power. Coincidentally, many moons ago there was a story about how Raymond was spotted making out with his daughter at a club in the capital. When that news came out, Raymond or the man had his lawyers contact that website to have them remove the article. That’s power! And, fear!
Anyways, check out the blind item from PinkVilla. By the way, one of the founders of this bank was killed in Mumbai’s 26/11 terror attack. He was the chairman and when he died, the other partner stepped up and took his place. From thereon, he’s the one who started the habit of approving these big loans!
Bollywood Blind Item
Amid Yes Bank crisis, top producer jokes about not repaying Rs 300 crore borrowed from the bank
Unfortunately, Bollywood has also faced the brunt of the Yes Bank crisis. For those unaware, Yes Bank has found itself in a controversy after the Reserve Bank of India imposed a moratorium on the bank for 30 days and capped withdrawals at Rs 50,000 earlier this week. While the common man suffers, Bollywood also finds itself in a soup.
A little birdie tells us that a few Bollywood producers, including three big banners, have their production houses’ salary accounts with the notorious bank. Given the cap imposed, producers, production houses and their employees are having difficulties with the transactions.
While everyone tries to find the path through the muck, we hear that a Bollywood producer is cracking a few jokes on the situation. Apparently, there are a few banners and producers who have borrowed money and taken overdrafts from the bank for their projects.
One of the three B-Town banners has borrowed a whopping Rs 300 crore from Yes Bank. With the crisis making the headlines, the producer running the banner jokes about not having to repay the bank. Talk about being insensitive!
Meanwhile, an insider tells us that another production house, whose movies have not been performing exceptionally great at the box office, has also borrowed money and has dealt with the bank for their productions. If that wasn’t enough, another production house floated its IPO last year with the help of Yes Bank and now, they have also landed in trouble due to the scam.
OSOP Guesses
Three Big Banners: Dharma Productions, Balaji Telefilms, & Excel Entertainment
Bollywood Producer: Karan Johar
this is the reason why public sector banks are much more reliable, there is a high chance private banks can loot and run away with people’s money,but government aka the ruling party needs lots of money to spend on their next election campaigns or other purposes,for this they are deliberately disinvesting /taking their shares from public sector banks,insurance companies,their latest target being LIC.
Also @admin, can you shed some more light on Raymond incident? One of founder’s 3 daughters became SM sensation for her appearance at IPL sometime back. Was it her?
Don’t think so. That one was a married woman, right? The one with Ray was the youngest daughter.
One bank scam and it’s ties with bw is nothing. Pretty sure there is a LOT moreblacj money being pumped into this industry. With the extravagant budgets being announced for visibly inferior quality and whopping collections shown, it’s a great way to convert black into white.
It would be now interesting to see whether photo ops with people in power will help people from Bollywood or not during this phase. Many moons ago, there was raid, but Bollywood people were left unscathed. SBI has taken some stake in yes bank so Bollywood might be let off with 1 warning.
public sector banks are way more reliable than private banks,
Comments are closed.