Abhay Deol is in a huge financial crises post the failure of his maiden venture as a producer, One By Two. Abhay Deol has had to mortgage his Juhu flat to take care of his financial worries. A public notice in this regard has been published.
Confirming the matter, Abhay Deol said, “I have availed a loan for which I had to give papers for this property as surety.”
The apartment is located in Pandurang Co-operative Housing Society in Pandurang Wadi, Juhu. While no specific details of the loan amount are available, the evaluation of the flat is about Rs 3.50 to Rs. 4 crore.
One By Two fell flat at the Box Office and the film could not even earn back its production cost. Also One By Two could not even make money off its music, because the producers had a tussle with the record label over contract issues.
The expenditure on the film was around Rs 8 crores. Abhay Deol produced it with five other people. If Abhay Deol fails to repay the loan, the bank would declare his property as a Non-Performing Asset, seize it, and later auction it off.
One By Two was a rom-com with no difference, directed by Devika Bhagat who co-wrote Manorama Six Feet Under. The film was a pile of cliche stereotypes and also served as a launch pad for Abhay’s girlfriend, Preeti Desai.
Recently Abhay Deol was in Delhi to felicitate a few young change makers, whose work has been featured on the channel bindass earlier as a part of b for change.
“The time is absolutely right to present youngsters with a platform like b for change that will encourage and inspire them to bring about a change and not just talk about it. This concept instantly connected with me, as I would like to believe that I too have done things differently in many ways whether it’s my career or personal life,’ stated Abhay Deol in his address.
Here’s hoping that he comes out of this financial mess soon.