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Failed to pay loan, Hariom Casting acquired by bank

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Jamshedpur, May 23: Central Bank of India, Sakchi branch acquired the Hariom Casting company situate in Srirampur Mouja, Gamharia under the industrial area after the company failed to pay the loans.

Acting on the orders of deputy commissioner, circle officer Kamini Kauhsal Lakra was present as the magistrate and had the dakhal dihani of all the movable and immovable properties. Bank Manager said that the company management had taken loan from the branch four years back which along with the interest stands at Rs 4 crore today.

‘The bank had issued several notices to the company management for repaying of loans but they failed to do so and we were forced to take this step’, added the manager.

Director of the company said, the current situation of the company is not good this is the reason we were unable to pay back the loans.

We tried our best to pay back the loans, he added. Present on the occasion were bank manager Rameshwar Rajak, Asraf Ali, Manish Kumar Singh, Gamharia Police Station incharge Upendra Pathak along with police force were present.

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