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A section tribunal has issued orders enabling the Apex Bank to instrumentality carnal possession of Malaprabha Cooperative Sugar Factory successful Bailhongal of Belagavi territory for non-repayment of implicit ₹153 crore loans.
The Senior Civil Court and Chief Judicial Magistrate Court has upheld the plea filed by the Apex Bank seeking carnal possession of the factory. The slope had already taken constructive possession of the mill successful September past year.
The mill has failed to settee its semipermanent dues moving into ₹153.23 crore taken from the Apex Bank. A announcement was served successful July past year. Constructive possession was obtained successful September. But the loans remained unsettled. The slope moved the tribunal successful Belagavi that issued the orders recently, Cooperation Department sources said.
