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Rs 98-lakh loan default: Pay up before Jan 15 or will seize property: Bank to ex-SAD minister
The decision comes in the wake of the Congress government’s direction to co-operative banks to recover their loans from all major defaulters.
The Punjab Agricultural Development Bank (PADB)’s Kapurthala branch on Thursday issued a recovery notice to former Akali minister Raghubir Singh and his son to clear Rs 90 lakh loan before January 15, failing which his 6-acre agriculture land will be seized.
The decision comes in the wake of the Congress government’s direction to co-operative banks to recover their loans from all major defaulters.
The bank officials had pasted notices at the Akali leader’s house in Hothiya village with the former transport minister and his son Gurpartap Singh being out of the country.
In 2004, Raghubir and his son Gurpartap had taken Rs 32 lakh and Rs 13 lakh loans for agriculture purpose. The minister paid only few instalments only and the payable amount reaching over Rs 90 lakh, including interest.
The two were declared defaulters by the bank six years back and his picture was also pasted on the defaulter’s list on the bank premises. However, no action was taken in this regard.
Bank officials had even staged a ‘dharna’ in front of Raghubir’s house to shame him last week. PADB manager Gurprem Pal said notices were issued on Thursday to 15 defaulters, including Raghubir and his son, who for Rs 1.35 crore default.
Gurprem said once the 15-day notice is over, their mortgaged properties will be auctioned.
Raghubir had won the assembly elections from Kapurthala in 1997 and was inducted as transport minister in Parkash Singh Badal government.
He lost to Congress candidate Rana Gurjit Singh in 2002 and 2007 and also to the latter’s sister-in-law Sukhjinder Kaur Rana in the 2004 bypoll.
