Solan/Shimla, Nov. 16 -- In a major step to recover long-pending dues linked to Baghat Cooperative Bank's non-performing assets, Solan Police have arrested a guarantor from Theog, Shimla, for repeatedly failing to appear before the court in a Rs 3.49 crore loan default case involving a private firm.
Superintendent of Police Gaurav Singh said the Assistant Registrar, Cooperative Societies, Solan, had issued an arrest warrant on October 25 against Rajesh Kumar, a resident of Satog village in Theog.
Kumar had stood as guarantor for a private firm that availed a substantial loan from Baghat Bank but failed to repay the amount within the stipulated period. The firm was subsequently declared a defaulter, with outstanding dues mounting to Rs 3,4...