came out in open today and clarified that he is not a defaulter. He tweeted, "For the few who may believe so neither me nor Annapurna studios owe any money to any banks!!FY," (sic) he tweeted.
He went on to say that all loans that he had taken have been cleared. The actor further elaborated, "It is true we took a loan from banks to build new film facilities at Annapurna studios earlier. All loans have been cleared earlier this year."
Nag had to face flak when Andhra Bank had named him as a defaulter. Recently he sold his stake in MAA TV, which was to the tune of Rs 750 Cr. He seems to have settled his loans with this money.