 "SBI opposes Gopinath's plans to unlock value")
The State Bank of India (SBI), which is trying to get back around Rs 290 crore lent to Capt Gopinath's Deccan Cargo & Logistics, has said that it will oppose any move by Gopinath and his family members to unlock value of the pledged assets.
Faced with the plight of auction of his residence which is technically owned by Gopinath's wife Bhargavi Gopinath, Gopinath was in the process of forming a joint development with the promoters of Bangalore-based real estate company RMZ Corp to unlock value in the residential bungalow in Bangalore. The bungalow, which is worth close to Rs 33 crore has been pledged among other properties to the SBI. SBI has added that Mrs Gopinath had earlier deposited Rs 10 crore after the Debt Recovery Tribunal had given the nod for auction and said that she has time till mid-August 2013 to pay the rest of the amount. close to Rs 23 crore.
Faced with the plight of auction of his residence which is technically owned by Gopinath's wife Bhargavi Gopinath, Gopinath was in the process of forming a joint development with the promoters of Bangalore-based real estate company RMZ Corp to unlock value in the residential bungalow in Bangalore. The bungalow, which is worth close to Rs 33 crore has been pledged among other properties to the SBI. SBI has added that Mrs Gopinath had earlier deposited Rs 10 crore after the Debt Recovery Tribunal had given the nod for auction and said that she has time till mid-August 2013 to pay the rest of the amount. close to Rs 23 crore.