Rourkela: Officials of four nationalised banks Friday sealed Chariot Steel and Power Pvt Limited at Kalunga Industrial Estate here for failing to repay loans to the tune of Rs 19 crore.
Led by the chief manager of investing centre in Bhubaneswar, the joint action was initiated by senior officials of Bank of India, State Bank of India, Allahabad Bank and State Bank of Mysore in the presence of Laxman Dalai, magistrate and additional tehsildar of Lathikata block.
Brahmanitarang police made adequate security arrangements at the plant to prevent any untoward incident.
The belongings of the workers, who had occupied 11 rooms on the plant premises, have been removed, it was learnt.
On the other hand, some senior union leaders submitted a memorandum to the bank officials demanding the outstanding salaries of the workers which is more than Rs 1.5 crore.
According to reports, Suresh Joshi, the owner of firm, took loan of about Rs 10 crore from the Rourkela branches of these four banks.
However, the total payable amount shot up to more than Rs 19.57 crore as he didn’t make any repayment. The banks served notices on Joshi in this regard.
Joshi, instead of making payment, moved the Orissa High Court filing petitions against these banks. The court asked the petitioner to appeal before the debts recovery tribunal over the issue.
The tribunal, however, dismissed the plea of the company. Joshi again moved an appellate forum against the ruling of the lower court but the forum also gave the verdict in favour of the banks.
Based on the ruling, the banks sealed the factory in the presence of revenue officers. PNN
