The bungalow of a renowned builder was sealed by the bank on Wednesday after he failed to repay the loan. The builder has been identified as Deepak Nilawar. On Wednesday, in the presence of the Tehsildar, the bank officials completed the procedure of sealing the property located in Rahate Colony. As per sources, the Nilawar family was present during the procedure but Deepak Nilawar had left the place.
As per information received, Nilawar through his company Revati Construction and Developers, had taken a loan of `2.78 crore in 2017 from Shikshak Sahakari bank but did not pay the dues on time. This amount increased to `5.50 crore and the bank repeatedly informed Nilawar about the re-payment.
Nilawar was also served a notice under Securitization Act-2002 and after the 60 days period got over, the bank approached the district administration. After hearing the matter, the seizure of the property was approved. Tehsildar Abha Waghmare and the bank officials then reached Nilawar’s residence on plot number 261, 262 and 263, Pyramid Tower and sealed the bungalow. It may be noted that no one was allowed to enter the bungalow while the procedure was underway and after it was completed, the bungalow was locked and a guard was also deployed by the bank.
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