Himachal Pradesh based Kangra Central Cooperative Bank will start auctioning the property of more than 50 defaulters to recover the loan worth of Rs 300 crore, according to media reports.
This was informed in the board meeting held Tuesday, presided over by the bank’s Chairman Rajeev Bhardwaj. On the occasion, Una based defaulter Crust Steel Company property has been seized. It will be auctioned soon.
The bank has to recover Rs 90 crore from Crush Steel Company. The bank will soon prepare the balance sheet of NPAs and initiate action for recovery. For this, the bank will attach the property of the defaulters. Later the property will be auctioned and the loan will be recovered, Bhardwaj added.