Canara Bank, branch Khade Bazar, Belgaum granted a loan to M/S Jaibhavani Metallurgy Pvt. Ltd situated at Village Tadshinahal, Tal. Chandgad Dist. Kolhapur. THe said loan was not settled by the borrowers hence the Bank moved to DRT Bangalore.
Subsequently the DRT authorities issued an recovery order OA 630/1999.
But so far the Bank has made no attempts to recover the said amount . I have been speaking to the Branch Managers for past 5 years and asking them about their progress, but no one is interested in recovering the said amount.
I am surprised to see this. Because to recover an amont as small as one or two lacks the whole branch is pouncing on the borrower but an amount of 1.5 CR has not been recoverd from the defaulter for almost 10 years.
How and Why?
I have two very valuable suggestions here one for the Bank another for the general public.
1) Canara Bank Authorities, please recover the amount as it is not your personal money.
2) If you are not interested in recovering the loan amounts how about granting me a loan of 25 Lack and then forgettinh about it?
General public follow my clue?
Regards
Ganesh Chitnis