Major administrative action was seen on Tuesday in the bank loan case which was in discussion for a long time in Mandi district of Himachal Pradesh. Una branch of Kangra Central Cooperative Bank i.e. KCCB took possession and sealed the hotel complex under construction of former Congress leader and businessman Yudhchand Bains located in Nalsar area of Balh sub-division due to non-payment of loan.
Actually, there was already discussion in the area regarding this action of the bank. On Tuesday, the entire process was carried out in the presence of administrative officials, bank management and heavy police force. Keeping in view the security arrangements, special arrangements were made on the spot so that no untoward situation arises.
It is being told that the concerned businessman had taken a loan worth crores of rupees from the bank, but it could not be repaid for a long time. The bank issued notices several times asking to deposit the outstanding amount, but when payment was not made, the bank decided to take possession of the property through legal process.
During the action, Tehsildar Balh, Revenue Department officials and bank representatives inspected the hotel premises. The revenue team measured the property and prepared a detailed record of the construction material and other items present inside the building.
After this, barbed wire fencing was done around the hotel premises and possession notice was pasted by the bank at the main entrance. According to sources, the matter had gained momentum in recent times when the concerned businessman had raised questions on the functioning of the bank officials and the valuation of the property and demanded an investigation.
However, the bank management says that the entire action has been taken as per the rules and legal provisions. To maintain law and order, the Police Quick Action Team i.e. QRT and the local police force remained deployed at the spot all the time. This process, which lasted for several hours, was completed peacefully under the supervision of the administration.
Bank officials said clearly
Bank officials clearly said that similar action may continue against other defaulters who do not repay the loan. He says that to keep the financial system of the bank strong and to protect public money, it is necessary to take strict action against the defaulters.