The properties of a Mumbai-based developer have been attached for not repaying the loan borrowed from a bank.
According to reports, Mumbai-based Sai Estate Consultants obtained a loan from the Mumbai District Central Cooperative Bank. The company owed Rs 62.5 crore to the bank, along with the principal and interest. But it did not clear the loan, forcing the bank to approach the Additional Chief Metropolitan Magistrate Court. The court, upon hearing both sides, directed the bank to attach the properties of Sai Estate Consultants. It appointed Advocate Sunil Pandey as Court Commission to conduct the proceedings. The court directed Sunil Pandey to take possession of the properties of the consultants in Sindhi Society in Chembur and also land there. It directed the Court Commission to avail itself of the support of the local police for this purpose.
