Kumod Verma, TNN Nov 17, 2011, 05.19PM IST
PATNA: In a major policy decision, the Stressed Assets and Resolution branch (SARB) of the State Bank of India,
Patna, has decided to auction the mortgaged properties of 21 borrowers
valued at Rs 4.21 crore at the branch premises on November 21.
These borrowers, who had taken loan from SBI, not only failed to repay
the money but also did not turn up for negotiations with the bank, said
additional general manager (AGM), SARB branch, Sunil Sharan Sinha.
He said there were altogether 21 borrowers who were declared
defaulters long time ago under the bank rules. Their properties, which
include plots, houses, shops and other assets, would be put on an open
auction on November 21.
Sinha maintained that the bank has still
kept its door open for defaulters till November 19 afternoon to reach a
settlement with the bank in their own interest; otherwise, the bank
would go ahead with the open auction plan under the Securitization and
Reconstruction of Financial Assets and Enforcement of Security Interest
(SARFAESI) Act, 2002.
Two of the borrowers, New Cozy Sweets and
Golu Kiranaz, both located in Danapur, reached a settlement with the
bank on November 16, he added.
According to sources, the SBI
has kept the reserved price of the total properties to be auctioned at
Rs 4.21 crore. They would thus be put on auction at not less than Rs
4.21 crore. A piece of land located in the prime area of Gardanibagh and
a sprawling house in S K Puri have also been targeted for open auction,
sources said.
The SBI AGM said this would be the first time that
Patna SARB will auction mortgaged property in the state capital to
realize the bank's dues from defaulters. He said that bank officials
right from chief manager to general manager would be present at the open
auction.
"The SBI usually restrains itself from taking such
harsh steps. But faced with the apathetic attitude of borrowers towards
repayment of their loans, the bank has been forced to take such a step,"
he said.
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