New Delhi: Some Indian companies, which have just turned non-performing assets, have defrauded three reputed Indian banks – IDBI Bank Ltd., Bank of Baroda, HDFC Bank Ltd. – to the tune of Rs 150 crore. Anumod Sharma, Dr. Anu Appaiah, Viraf Sarkar, and Sanjay Choudhary acted as Directors and Guarantors for M/s. Great Indian Nautanki Company Pvt. Ltd. (GINCPL) had obtained the loan. IDBI Bank Ltd. has been cheated by Rs 92.69 crore, Bank of Baroda Rs 49.23 crore, HDFC Bank Rs 6.27 crore. The amount includes interest, penalties and other costs.
In this case, Great Indian Tamasha Company Pvt. Ltd. (GITCPL) is designated as the Corporate Guarantor. The other guarantors are Wizcraft International Entertainment Pvt. Ltd., SG Investments Pvt. Ltd. (Also Read: IKEA Opens Its Biggest Store In India In Bangalore, Plans To Invest Rs 3000 Crore)
After reporting of NPAs, the private lender is now seeking bids through e-Savdhan for sale of 107.24 acres of land owned and mortgaged by GITCPL. With this move, banks are trying to recover the dues. For those unaware, GITCPL was operating Kingdom of Dreams in Gurugram, near Delhi. (Also read: PM KISAN eKYC deadline ends on July 31, how to do Aadhaar OTP-based authentication)
The land parcels under the bid are located in Ballamvati Mandal Panchayat of Perur village in Kodagu district of Karnataka. The auction bids were called for defaulting in payment of huge debts under the SARFAESI Act.
Bids for properties with a reserve price tag of Rs 1,153 lakh will be open from July 16 to July 22. As per the public announcement, the e-auction will be conducted on July 27.
Request for initiation of insolvency and bankruptcy proceedings against Wizcraft International Entertainment Pvt Ltd by IDBI Bank. Ltd., which has been defaulted by the original loan borrower, GINCPL, was admitted by the National Company Law Tribunal in May 2021.
– With PTI inputs.