Loan Defaulter: Banks issue a notice to seize property of Unmesh Manohar Joshi

The banks issued a notice to seize the property of Unmesh Manohar Joshi, son of former Maharashtra Chief Minister Manohar Joshi, who failed to repay loan worth ₹68 crore

SHARE


Three Government banks have issued a notice to seize the properties of Unmesh Joshi, the son of former Maharashtra Chief Minister Manohar Joshi, in Kurla and Lonavala. This happened after Joshi Jr failed to repay a loan worth ₹68 crore.

Developer Unmesh Joshi was able to take a huge amount of loan through Kohinoor Education Trust from government banks including Bank of Maharashtra, State Bank of India, Bank of India.

According to the reports, Joshi took ₹12.77 crore from Bank of Maharashtra followed by the loan of ₹38.63 crore from State Bank of India, ₹13.18 crore from Bank of India while ₹3.3 crore from another source. 

Also Read - CSMT Bridge Collapse: Mumbai Police Arrests BMC’s Structural Auditor

However, the loan has not been re-paid since January 2017. As this happened, the banks started sending notices to the guarantors. Despite this, Joshi failed to repay the loan and the banks have issued a notice to seize the defaulter’s property under Financial Assets and Enforcement of Security Interest Act, 2002. 

RELATED TOPICS
Latest News