Legendary filmmaker K Balachander has been an inspiration for many and he is said to have introduced Superstars like Rajinikanth, Kamal Haasan to Indian cinema. The veteran director passed in 2014 and his properties are under threat because of the non payment of loans worth Rs 1.36 crores. The director’s family has been issued a notice recently regarding the unpaid loan of the above amount by UCO Bank. His two flats may be kept for auction if K Balachander’s family members fail to repay the loan.
According to a report from ‘The Hindu’, the family members are currently in talks with the bank officials. The director’s production house Kavithalaya productions clarified about this and the negotiations are on for a one-time settlement. Two flats located in Mylapore have been kept for auction with built up area of 1700 sq ft and 2400 sq ft respectively.
