Solan, Oct. 23 -- The Solan Deputy Commissioner has ordered the sealing of properties belonging to 15 loan defaulters of the Baghat Urban Cooperative Bank to recover loans under the Sarfaesi Act. This follows earlier actions, including a Rs. 10,000 cash withdrawal cap imposed on the bank by the RBI and orders from the Assistant Registrar of Cooperative Societies to arrest 12 other defaulters. The bank can now seize and auction the properties of these defaulters.
The sword of a strong action is hanging over 6 other defaulters as well. The bank can now seize the properties of all these defaulters and auction them. For the last few days, major action has been initiated against the loan defaulters. Earlier, the court of the Assistant Registrar...