Guarantor of 5 cr loan held

Source: The Hitavada      Date: 02 Jun 2018 11:05:10




Staff Reporter

A police team of Debt Recovery Tribunal (DRT) succeeded in apprehending the guarantor of loan amounting to Rs 5 crores in the name of Sriram Transformer Company from State Bank of India, on Friday. DRT team arrested the accused named M C Bansal, a resident of E-5/85, Arera Colony in Bhopal.
DRT, Inspector, Deepak Pachori informed that tribunal issued a warrant against M C Bansal for recovery of loan amounting to Rs 5 crore. He informed that the person who took loan of Rs 5 crore and MCBansal was guaranteer in the loan case. The loan taker was died some times back and failed in clearing the loan. Loan amount reached at around Rs. 55 crores and MC Bansal was arrested for recovery of loan amount.