Putting an end to all the rumors, Nagarjuna today clarified that he is not defaulter of loans. He said neither he nor his studio owe money to any bank. "For the few who may believe so neither me nor annapurna studios owe any money to any banks!!FY," (sic) he tweeted. 

But he also agreed that he took loan for the development of new facilities at Annapurna Studios in Hyderabad. He said he cleared them off. He further tweeted, "It is true we took a loan frm banks to build new film facilities at annapurna studios earlier.ALL LOANS HAVE BEEN CLEARED EARLIER THIS YEAR."
  
A year ago, Andhra Bank declared Nagarjuna's name among defaulters. Since then Nagarjuna has been under severe criticism. 
  
When Prime Minister Narendra Modi announced the demonetisation process, Nagarjuna was the first among the celebrities who welcomed this and hailed Modi's decision. Then trolls have started. Bank defaulters like Nagarjuna are praising this decision, online-trollers lamented. Responding to this he tweeted today that he owes no money to any bank now. 
  
Nagarjuna received huge money to the tune of Rs 750 Cr when he sold off his stake in Maa TV to Star Group. After the money was encashed he seems to have cleared the bank loans.