Source: The Sangai Express
Imphal, November 24:
North Eastern Development Financial Corporation Limited (NEDFi) has attached the properties of a person who failed to return the loan taken from the corporation in connection with setting up a poultry unit.
The loan defaulter whose properties have been attached is identified as Dr Rajkumar Karor Meetei of Sagolband Tera Sapam Leirak.
He is the proprietor of M/s MK Poultry Enterprises.
Out of a total loan amount of Rs 12.50 lakhs sanctioned which include Rs 8.80 lakhs with interest payable at the rate of 15.5 percent per annum as term loan and Rs 3.70 lakhs with interest payable at the rate of 1.5 percent per annum as soft loan, the financial institution had disbursed Rs 10.20 lakhs to Dr Raj Kumar on September 29, 2000. The loan amount was to be repaid within 5 years on quarterly basis from October 1, 2002 to July 1, 2007. However, as the loanee did not repay the amount, the total due amount including the interest has reached Rs 13.20 lakhs.
Attachment of Dr Raj Kumar Karor Meetei�s properties which include a piece of land measuring 0.0240 hectares along with buildings and other structures standing on it was carried following an order passed by the Debt Recovery Tribunal, Guwahati on February 22 this year.
The order was carried out by NEDFi officials comprising of Assistant Manager W Prabinkumar and in-charge of Imphal Branch Thangzamang Lhouvum in the presence of security personnel and media persons.