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Chhattisgarh: Bank issues notice regarding confiscation of properties of NRDA over non-repayment of Rs 317 crore loan amount by state

Former Chief Minister Dr Raman Singh in a Tweet said, "Today the properties of Nawa Raipur are being confiscated, possibly by tomorrow (future) they will mortgage Mother Chhattisgarh.

AVDHESH MALLICK | Updated on: Tuesday, January 18, 2022, 08:53 PM IST

Naya Raipur project (NRDA) | Photo: Representative Image
Naya Raipur project (NRDA) | Photo: Representative Image
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The Chhattisgarh government talked about the hottest properties of Nawa Raipur (pride of the state) which is now facing threats of impoundment and confiscation from financial institutions.

Union Bank issued a notice regarding the confiscation of properties of Nawa Raipur against non-repayment of the loan amount of Rs 317 crore against Atal Nagar Vikash Pradhikaran which is presently known as Nawa Raipur Development Authority (NRDA).

Former Chief Minister Dr Raman Singh in a Tweet said, "Today the properties of Nawa Raipur are being confiscated, possibly by tomorrow (future) they will mortgage Mother Chhattisgarh.

Raman Singh criticised the incident in strong words and said if the trend of ill financial management continues, very soon Bhupesh Government’s Chhattisgarh model will make the state bankrupt.

All the assembly government properties including roads, assembly house, state secretariat will be mortgaged and confiscated, former CM alleged.

Opposition leader Ajay Chandrakar said the way the present Congress government handled exchequer accounts and did financial management, in three years, I am fearing the whole state may be in debt. The Chinese government has taken control of the Srilankan port because they failed to pay the loan amount, Chandrakar said.

Slamming the comment, Chhattisgarh Congress Chief Spokesperson SA Shukla said that the present situation is the outcome of the former CM Raman Singh's government ill financial management.

The previous government left with the state with Rs 14,000 crore unproductive loan and secondly, if the BJP leaders are so concerned about their situation then they must speak to the central government to release our money of Rs 32,000 crore, Shukla said.

The Union Bank of India has issued a notice on August 2, 2021, and demanded that its loan amount of Rs 317 crore must be paid within a period of 60 days.

In absence of proper action, the Bank issued a public notice on January 12, 2022, and informed it has confiscated 2.569 Hectares of property of Kayabandha and Baroda village.

Notably, the government has taken a loan of more than Rs 51,000 crore in the last three years and the exchequer is continuously running in debt.

The government running in physical deficit and the payable loan amount is Rs 106% of the gross revenue earned by the government. The estimated budget of the government is Rs 79,325 crores.

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Published on: Tuesday, January 18, 2022, 08:53 PM IST