Bollywood actor Rajpal Yadav, who is facing a recovery lawsuit, has submitted a fresh proposal in the Delhi High Court to settle the loan he had taken from a businessman here.

"I have to payback Rs 3.42 crore while have already paid Rs 1.58 crore. I have got a fresh offer from a company which has agreed to take up my liablity of the loan," Yadav informed a bench of justices Geeta Mittal and P S Teji.

Counsel for Yadav showed the proposal to the bench but refused to share it with senior advocate Dayan Krishnan, representing the lender Delhi-based businessman, M G Agarwal, owner of Murli Projects.

"He (Yadav) is facing an unique problem that whenever he approaches a financer, they say that they have also been approached by the other party for not paying him," Yadav’s counsel claimed.

After perusing the proposal, the bench asked by when he can pay the money to which Yadav’s counsel said that within 30 days.

Senior advocate Krishnan opposed the contention and said that Yadav has earlier also promised in court to pay the debt after working in a prominent movie ‘Bhopal: A prayer for rain’ but till now nothing has been paid.

"He is not going to give any undertaking that he will pay the money, he gets for acting in a movie or how much he is being paid by the producers of a movie. He is just buying time of the court," Krishnan said.

"We will hear the matter. Put it for further hearing on March 24," the bench said.

The court was hearing an appeal filed by Yadav against the single judge’s order which had sent him to 10 days in jail for misleading the court in a recovery suit filed against him and his wife by the businessman.

Earlier, on September 23, High Court has sought details of Yadav’s earnings post the release of his directorial venture ‘Ata Pata Laapata’ in 2012.

Actor Yadav and his wife Radha had allegedly taken the loan in 2010 to make his directorial debut with the Hindi film ‘Ata Pata Laapata’.

42-year-old Yadav had spent four days in Tihar Jail from December 3, 2013 and on December 6, a division bench of the high court had suspended his sentence on his appeal.

The single judge bench, which was hearing the recovery suit, had taken exception to the affidavit filed by Yadav on December 2, which was allegedly falsely prepared and contained forged signatures of his wife.

Annoyed by the affidavit, the court had ordered that Yadav be sent to jail for 10 days for contempt and also directed that his wife, who had appeared with her child before the court, be kept in the office of the Registrar General till the rising of the court.

Yadav along with his wife, has been engaged in a legal battle after Delhi-based businessman, M G Agarwal, owner of Murli Projects, filed a case against the couple in the high court for failing to repay a loan of Rs five crore which the actor had taken in 2010 to make his directorial debut.