Medical college crisis: Bank takes ‘symbolic’ control of Gian Sagar institute, land, equipment | punjab$chandigarh | Hindustan Times
Today in New Delhi, India
Jul 28, 2017-Friday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

Medical college crisis: Bank takes ‘symbolic’ control of Gian Sagar institute, land, equipment

As per the recent government audit, the college is currently under debt of Rs 108 crore, which include over Rs 30 crore in salaries of the staff and faculty, who have not been paid since last October

punjab Updated: Apr 25, 2017 22:40 IST
Vivek Gupta
Members of ‘Insaaf Di Awaaz’ holding a protest against PACL and Gian Sagar management in Patiala on Monday.
Members of ‘Insaaf Di Awaaz’ holding a protest against PACL and Gian Sagar management in Patiala on Monday.(HT File Photo)

A day after the Punjab government set in motion the process to shut down Gian Sagar Medical College, Banur, by issuing a show-cause notice for withdrawal of all permissions, the management got into trouble with a bank too. Punjab National Bank (PNB) issued a public notice that said it has taken symbolic possession of the college property since the trust running the college failed to repay a loan of Rs 45 crore.

“Any dealing with the college will be subject to the clearance of bank debt,” the notice added. Among properties attached by the bank are hospital equipment and a large chunk of college land.

As per a recent state government audit, the college is under a debt of Rs 108 crore, which includes Rs 30 crore of salaries not paid since last October.

The PNB notice, put up at the college entrance on Tuesday by the bank’s officials, further stated that the management was issued a notice on August 17 last year seeking the money within two months. “However, the borrower did not pay any heed to bank notice and hence the bank has now initiated process to take procession of the college property which is mortgaged with the bank,” said a senior PNB official at its Chandigarh branch.

While college chief executive officer Manish Jhakhar could not be reached despite several attempts, BJP leader Swarn Salaria, who has joined the trust for revival, told HT that he would clear his stand only before the state government.

Classes remain suspended in the college since February 1 after faculty and staff went in for indefinite protest over their pending wages. More than 60% faculty, including the dean and principal, have already resigned.

The department of medical education and research will cancel all permissions to the college if the management fails to give satisfactory reply to its notice within a week.

Meanwhile, the high court on Tuesday directed the Punjab government and Gian Sagar Medical College management to hold a meeting on Wednesday. The direction was issued during the resumed hearing of a plea by students demanding to start of classes immediately.