Pune Cooperative bank takes 'possession' of NCP MLA Munde's flat over dues

A Pune-based bank has taken "symbolic possession" of a flat owned by newly-elected NCP MLA Dhananjay Munde in Maharashtra for alleged non-payment of loan of Rs 70 lakh.

The NCP leader defeated his cousin Pankaja Munde of the BJP in the just-concluded assembly elections from Parli in Beed district of central Maharashtra.

Pune-headquartered Shivajirao Bhosale Cooperative Bank Ltd had published an advertisement/notice related to the flat in a newspaper on October 25, the day after election results were declared.

"Since the respondent has failed to repay the loan amount, the bank has taken symbolic possession of the property," stated the notice.

In symbolic possession, the property remains in the possession of the owner.

The flat in question is located at 'Yugai Greens' project in Model Colony in Shivajinagar here.

A bank official said if the the borrower fails to repay the outstanding amount, the bank will send a proposal to the collector to take physical possession of the property.

Due to "serious irregularities" in functioning of the cooperative lender, its board was dismissed earlier this month by the RBI, which subsequently appointed an administrator to run the bank, promoted by NCP MLC Anil Shivajirao Bhosale.

In the newspaper advertisement, the bank said the respondent (Munde) has failed to repay the loan amount despite making demands and serving recovery notices.

The official said Munde has two loan accounts with the bank.

"In one loan account in which the original amount was Rs 1 crore, there is an outstanding of Rs 24 lakh and in the other account of Rs 75 lakh, the outstanding is Rs 46 lakh (total Rs 70 lakh)," he said.

The official said the due date for clearing the Rs 1 crore loan got over in October 2016 and for the second account of Rs 75 lakh, the due date got over in May 2018.

"We have taken symbolic possession of the flat after which we issued a public notice in the newspaper. If in the next 15 days, the borrower fails to repay the outstanding amount, the bank will send a proposal to the collector to take physical possession of the property," he explained.

Despite repeated attempts, Munde was not available for comment on the issue.

However, an aide of Munde said since he was busy in elections, the NCP leader had sought some time from the bank to clear the dues.