Sunday , December 29 2024

Lotus School in Isanpur defaults on mortgage loan, bank seals school, a trustee took a mortgage loan of Rs 1.46 crore | News India

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Ahmedabad News: One of the trustees of Lotus School in Isanpur area took a mortgage loan of Rs 1.46 crore from Punjab National Bank. After which the trustee died. Due to which the loan amount was not reimbursed by the school trust. After this, a notice was given by the bank. Despite repeated notices from the bank, the loan was not repaid. Due to which the door of the school was sealed by Punjab National Bank.

The bank sealed the property and pasted a notice stating that the bank's authorized officials have taken possession of the property. When the students reached the school on Saturday, the main gate was sealed and the students returned home. However, now there is a holiday on Sunday and Monday. If the seal is not opened by then, the students' studies will be affected.