Industrial unit sealed for nonpayment of bank loan in Gujarat
January 13, 2017
Bharuch: An industrial unit in central Gujarat town Ankleshwar was sealed by district collector of Bharuch due to non-payment of bank loan.
Ankleshwar based Rajat Pharma had taken Rs 53 crore loan from Overseas branch of Dena Bank in Mumbai. However the loan amount was not paid back in prescribed time limit. Even after repeated notices, When Rs 36 crore amount remained unpaid, a representation in this regard was made to district collector following which Circle Officer Shailesh Nina, bank officials and police sealed the factory unit under the procedure as per Security violation and reconstruction of financial excess and enforcement office security act 2002.
DeshGujarat
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