Banks take over MCA stadium in Pune over loan payment defaults

Posted on:07 Nov 2018 12:13:49
Banks take over MCA stadium in Pune over loan payment defaults
07 November 2018 Current Affairs: A consortium of lenders led by Bank of Maharashtra has taken 'symbolic possession' of Pune's Maharashtra Cricket Association (MCA) Stadium over non-payment of loan by stadium authorities.

The Maharashtra Cricket Association has failed to repay dues of ₹69.53 crore to Bank of Maharashtra, Karnataka Bank, Bank of Baroda and Andhra Bank despite being served a 60-day notice on August 18.
A consortium of lenders led by Bank of Maharashtra has taken 'symbolic possession' of Pune's Maharashtra Cricket Association (MCA) Stadium over non-payment of loan by stadium authorities.

The Maharashtra Cricket Association has failed to repay dues of ₹69.53 crore to Bank of Maharashtra, Karnataka Bank, Bank of Baroda and Andhra Bank despite being served a 60-day notice on August 18.

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