Who is Madhav Gopal Agarwal?: Bollywood actor Rajpal Yadav has been granted interim bail by the Delhi High Court in a ₹9 crore loan case. The court had initially denied him bail on February 12, but he was granted relief in a hearing on February 16. Following this, he is being released on interim bail on Friday. Entrepreneur Madhav Gopal Agarwal has also jumped bail in this case.
Who is businessman Madhav Gopal Agarwal?
He stated in an interview that he met Rajpal Yadav through MP Mithilesh Kumar Katharia. According to Agarwal, at that time, Rajpal Yadav stated that the film Bhool Bhulaiyaa was almost complete and that if funding was not arranged immediately, the project would be stalled. He then allegedly raised funds elsewhere and lent him ₹5 crore.
Madhav Gopal Agarwal is said to be the director of Delhi-based Murli Projects Private Limited. It is alleged that Rajpal Yadav took a loan of ₹5 crore from this company for the production of his film Ata Pata Lapata. The film's budget was reportedly around ₹11 crore.
How did Rajpal go bankrupt?
After its release in 2012, the film flopped badly at the box office, grossing only approximately ₹37 lakh. This is where the financial dispute began. Aggarwal alleges that Rajpal Yadav took a loan from him, and the check he provided for payment later bounced.
Rajpal Yadav has claimed that the money was given as an investment, and the businessman wanted to launch his grandson as a lead actor in films. The case is currently in court, and further hearings will determine whether the disputed amount was a loan or an investment.
