Lesson given by UBI under SARFAESI Act

Desk Reporter:United Bank of India, Behala Regional Office, took physical possession of a mortgaged property at Brahmo Samaj Road, Behala under SARFAESI Act on Friday, 8 December 2017. Under the orders of District Magistrate, South 24 Parganas, the authorized receiver appointed by the District Magistrate with the help of Police officials of the Parnasree Police Station took possession of the property of the defaulter NPA borrower and handed it over to the United Bank of India officials. The borrower of the Behala Chowrasta Branch of UBI who has mortgaged his property against loan failed to repay the loan. 
According to the Bank officials the borrower was given several notices and was reminded several times to repay the loan. However the borrower did not repay the loan and ignored all notices and requests of the Bank. Finally after giving SARFAESI 13(2) and 13(4) notices to the borrower the Bank pleaded before the District Magistrate for physical possession for recovery of the bad debt against which the DM ordered to take possession the property and hand it over to Bank officials. The day witnessed lot of action when the DM authorized official along with Police officials of Parnasree Police Station and officials from United Bank of India, Behala Regional Office and Behala Branch arrived to take physical possession at Brahmo Samaj Road, Behala. The defaulter borrower did not respond properly to the Govt. Officials and tried to prevent the Government Officials from discharging their duty, by keeping his Premises under lock. However, the neighbourhood people of the locality did not came in support of the defaulter borrower. Instead people of the locality supported the Govt. officials. After daylong drama which started at 12.00 hrs. noontime, the property was finally handed over to the United Bank of India officials at 4 P.M. through a peaceful process. 
The Bank officials stated that in present times when all Banks are seriously affected with the problem of NPAs and bad loans, the Banks are compelled to recover their bad loans through stringent legal measures to keep the Banking system alive in our country. They further stated that United Bank of India is always at the forefront to support all individuals and entrepreneurs with neddful loans. But defaulter borrowers who do not keep their commitment and try to paralyse the banking system will be dealt with strictly according to the law of the land.
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