The CBI has also registered a case against filmmaker Bunty Walia in a bank fraud case. In fact, Jaspreet Singh Walia alias Bunty Walia has been accused of defrauding IDBI Bank of Rs 119 crore. Officials have said that in June 2008, Bunty Walia had taken two loans on personal guarantee. Bunty Walia's GS Entertainment Pvt Ltd had issued a $2.35 million foreign currency loan and Rs 4.95 crore RTL as a finance scheme to make Sanjay Dutt and Bipasha Bass's movie 'Lamhaa'.
Now IDBI Bank has claimed that 'Lamhaa' movie was to be released in the year 2009 under the fixed plan, but before the release of the movie, there was a dispute between the promoters and exhibitors, after which the release of this movie was stuck. Due to the non-release of the movie on time, this account has become a non-performing asset since September 30, 2009. Subsequently, the bank also appointed PVR as a distributor to release the film worldwide under the settlement of an agreement between GSEPL, PVR and the private bank. Along with this, a commitment was also taken from PVR that it would invest Rs 8 crore for post-production work. However, PVR could not live up to its commitment.
What are the allegations against Bunty Walia?
IDBI Bank alleged that during the forensic audit, it has been found that Bunty Walia's company submitted a fake usage certificate and also manipulated the account books by diverting funds to the bank. The CBI has registered a case against film maker Bunty Walia, accusing him of cheating, forgery, falsification of records, misappropriation of public funds, misrepresentation and criminal breach of trust.
Let me tell you that Bunty Walia has also produced movies like 'Ek Ajnabee', 'Hello Brother', 'Pyaar Kiya To Darna Kya' and 'Lamhaa'. Movies like Hello Brother and Pyaar Kiya To Darna Kya have proved to be super hit at the box office. While Salman Khan and Kajol's pair was very strong in the movie 'Pyaar Kiya To Darna Kya', Amitabh Bachchan appeared in Ek Ajnabee film.
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