Financial Daily from THE HINDU group of publications
Tuesday, Feb 03, 2004
Financial Daily from THE HINDU group of publications Tuesday, Feb 03, 2004 |
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Money & Banking
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Non-Performing Assets Dhanalakshmi Bank takes over Devaki Hospital's property Our Bureau
Chennai , Feb. 2 DHANALAKSHMI Bank on Monday took possession of a part of Devaki Hospital's premises under the Securitisation Act following the latter's failure to repay a loan. A notice put up at the hospital by the bank said Devaki owed it Rs 1.31 crore. The Chief Metropolitan Magistrate, Chennai, had passed an order under the Securitisation Act last week that allowed the bank to possess Devaki's property. Members of Devaki's management committee could not be reached for comment. A visit to the hospital showed that it functioned normally. A flow of patients kept coming in for treatment. Currently, the hospital's nephrologists and the former managing director, Ms Chitra Chokalingam, are battling for control of the hospital. The nephrologists had made an open offer to shareholders last year. The outcome of the offer has not yet been announced.
More Stories on : Non-Performing Assets | Private Banks | Medical Institutions & Hospitals
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