Abhinav is in the news again, err…rather his Dad is in news. For defaulting on loans to the tune of 75 crores.The money claimed from Bindra is over Rs 75 crore. He had borrowed it in the 1990s to set up a meat processing plant under Punjab Meats Ltd.
This is what rediff had to say about it.
Banks led by the State Bank of Hyderabad, IDBI, ICICI Bank and IndusInd Bank, among others, had given the Loan. They have now gone to court to get their money back.
On his part, Bindra said that the amount was much smaller than what was being claimed by these banks. Bindra has refused to reveal the size of the outstanding loan on the grounds that the matter is sub judice.
“I am a victim of political vendetta as the state government did not allow me to start commercial production after the plant was ready”, Bindra said
Meanwhile, the State Bank of Hyderabad has declared the company a willful defaulter to the tune of Rs 13.83 crore.
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