Boney Kapoor's assets to be mortgaged

Sridevi and Boney Kapoor

Film producer Boney Kapoor is apparently facing a fresh financial crunch. It was reported in January this year that Sandeep Bhargava replaced Boney Kapoor as CEO of Sahara Motion Pictures, now we hear that Sahara and Boney Kapoor are apparently involved in a bigger fight.

Boney hasn't been spotted at the Sahara office in Mumbai since last December and in January he was replaced.

According to sources, Sahara chief Subrato Roy called the producer and informed him that his property will be mortgaged to the government as the company has to pay the SEBI loan.

And if rumours are to be believed Boney Kapoor had borrowed around R85 crore from Sahara right from the time he was making the film, No Entry. In return, Boney Kapoor is said to have mortgaged his property.

But now since Sahara is under financial pressure and since the company has waited long enough for Boney to return the amount owed, the company might have taken a decision to take strict action against him.

Sahara chief Subrata Roy and his wife Swapna have been said to be very close to the Kapoor family and they had thrown a party for Sridevi in April when she won the Padma Shri award.

Change of scene
The equation, however, seems to have changed since we hear that recently at the Aamby Valley India Bridal Fashion Week 2013 organised by the Roys, the Sahara chief apparently asked Boney and Sri's names to be taken off the guest list. This is the first event since a long time that Sridevi and Boney were not present at an event that involved the Roys.

A source adds, "Boney Kapoor had borrowed money and he became a member on the board of directors. He was then to co-produce movies with the brand which in a way was done to repay the amount he had borrowed. The arrangement was to work with company and then repay the amount but nothing worked out."

Boney Kapoor and the channel remained unavailable for comment.

But a source close to the channel said, "There is no mortgage happening, the company has to give R20 crore as securities to SEBI that's all. I am not aware of the money, which Boney Kapoor has borrowed and if his property is under mortgage. Also, all is well between Boney Kapoor and Sahara as they attended the Durga Pooja celebrations also in Lucknow in October this year."