Financial Trouble for Thala 55 Director

12/03/2014

Indian Bank, Kotturpuram has issued auction notice to Thala 55 director Gautham Vasudev Menon's property which is located in Adyar. According to the reports the director owes Rs. 60 lakhs to the bank. Though he had paid six installments the amount has not been fully settled and hence the bank has issued the auction notice on the property on which he has acquired the loan.  The tender value has been quoted as 12.26 crores and initially a depositor should deposit 50 lakhs for it.

Sources say the bank officials are willing to listen to Gautham Menon's reason and the entire problem will vanish once the due amount is settled.