A nationalised of India issued public notice towards the state culture minister Surendra Patwa and some of his family members on banning the sale of two immovable properties mortgaged by them.
To avail a bank loan for M/s Patwa Automotive Pvt. Ltd., Patwa and his family members, Phoolkunawar Bai Patwa, Mahendra Pata, Bharat Patwa, Monika Patwa and M/s Star City Construction had given their guarantee for the loan, according to a press release by Bank of Baroda’s Industrial Estate Branch.
Through the public notice, the bank said that it had given 60 days to repay the loan and on their failing, the bank has taken “token possession” of the properties.
The statement said that the land of 5,132 sqm in Lasudiya Mori and 3,930 sqm in Chandeshari in Ujjain are two properties, owned by M/s Patwa Automotive Pvt. Ltd. and were mortgaged to avail the loan.
The bank urged the public not to make any deal regarding both properties. The bank says that from 1st July 2017, it has to recover Rs 33.45 crore along with interest and other expenses.