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Saraswat Co-operative Bank on Monday said it will pursue all legal remedies to take possession of the property of Orange Medicare & Research Centre Pvt. Ltd. (OMRC) even as a Director of the company has filed an FIR at Kothrud police station, Pune, against the bank’s Chairman, Managing Director and other executives.
India’s largest urban co-operative bank, in a statement, alleged that the first information report (FIR) has been filed by a Director of OMRC with the intention to create hurdles and avoid loan recovery action as per latest order issued by Tahsildar in December 2021.
“It has been a trend for some defaulting borrowers nowadays to create all sorts of hurdles, including criminal charges against banks which are trying to recover their legitimate unpaid dues.
“Saraswat Bank…will pursue all legal remedies to take possession of the property of the defaulting company,” per the statement.
The bank claimed that OMRC is a defaulter borrower, with overdue amounting to ₹16 crore plus updated interest from this account.
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