Baghat Bank Loan Recovery Case: Assistant Registrar Court Orders Auction of 20 Defaulters’ Properties
Solan: In the Baghat Bank loan recovery case, the Assistant Registrar of the Cooperative Society, Solan, ordered the auction of properties of 20 defaulters on the first day of the hearing. The court also directed attachment of the monthly salaries of two defaulters and seizure of vehicles of two others.
On Tuesday, 41 defaulters were summoned for the hearing, out of which around 23 appeared in court. Three defaulters submitted checks worth ₹2.80 lakh and agreed to pay monthly installments. The largest defaulter, from Una, has an outstanding debt of around ₹6 crore including interest. He assured the court that he would sell his property to repay the loan in full.
However, 18 defaulters failed to appear, and non-bailable warrants will be issued for their arrest. The court proceedings will continue for three days, with 39 defaulters summoned on the second day, Wednesday.
During the hearings, some defaulters and guarantors made significant revelations. They alleged that bank managers and employees had taken money in return for granting loans. One guarantor claimed that he was initially informed of a ₹3 lakh loan limit, but later discovered loans of ₹30 lakh each were sanctioned and his land was attached. Defaulters also accused the police of failing to arrest major defaulters in Solan, while smaller defaulters were being arrested promptly.
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