In the Baghat Bank loan recovery case, more than 150 defaulters will once again appear before the Assistant Registrar’s Court. Summons have been issued for their appearance on December 16, 17, and 18. This will be the final opportunity for them to respond to their loan claims. If they fail to appear, non-bailable warrants will be issued, and they may face arrest.
Defaulters have been instructed to appear with all loan-related documents and submit them in court. They will also have the chance to deposit the loan amount.
Earlier, notices were issued to defaulters between November 11 and 13. Most of them appeared and submitted their claims. Some also deposited checks or cash as part payment and agreed to settle the matter through a lump sum payment.
The bank has now introduced a new lump sum settlement policy. This policy is expected to provide relief to many borrowers and open the way for easier repayment.
Meanwhile, the bank is also reviewing the loan files of defaulters. How the loans were sanctioned is being examined, and multiple irregularities have come to light. This situation continues to affect the bank’s customers. The RBI has already imposed a cap on withdrawal limits, and customers will be able to access unrestricted withdrawals only after the cap is lifted.
