Odisha businessman failed to repay loan, Union Bank seizes his property

The Union Bank of India authorities reportedly seized properties of Ganesh Prasad Behera, a businessman from Jeypore area in Koraput district, for allegedly defaulting a loan of over Rs 4 crore.

According to sources, the properties of Behera were sealed by the enforcement team in presence of Jeypore Tehsildar Monalisa Acharjee.

The properties include- Behera’s residential house at Jeypore and his garage named- Laxmi Motors at Ambaguda.

The action from the bank came after Behera allegedly did not repay the loan despite several notices from the bank.

“The present outstanding is Rs 4.2 crore. He had mortgaged his yard and residential house at Jagdhatripur to avail of the loan. After getting necessary orders from DM court, we are sealing the property,” said Rajesh Suna, chief manager, Union Bank.

“We were loyal customers of the bank. But we incurred heavy losses following Covid-19 and the bank did not support us then. When we went to Ambaguda today, we were not allowed to enter our premises by the bank officials as they said the properties have been seized,” said Shaktiprasad Behera, brother of the businessman.

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