Bank Takes 'Symbolic Possession' of MCA International Stadium Over NPA of Account
Meanwhile, MCA honorary secretary Riyaz Bagwan is confident that BCCI will come to Association’s help.
Maharashtra Cricket Association (MCA) stadium in Pune is now under the “symbolic possession” of Bank of Maharashtra (BoM). The same was announced through a public notice by the bank as MCA has failed to repay the loan of at least Rs 69.5 crore. The international cricket stadium at Gahunje recently hosted the India vs West Indies One-Day International (ODI) on October 27. Besides it, a Ranji Trophy match between Maharashtra and Vidarbha was played from November 01 to 04. India vs West Indies 2018, 2nd T20I: UP Govt Renames Match Venue in Lucknow After Ex-PM Atal Bihari Vajpayee
BoM took the action as the loan account had become a non-performing asset (NPA). As per the BoM ’s notice, the bank, along with Karnataka Bank, Bank of Baroda and Andhra Bank, had served a 60-day notice to MCA on August 18. It is pertinent to mention that BoM led the consortium of banks that extended the loan for MCA.
Meanwhile, MCA honorary secretary Riyaz Bagwan is confident that BCCI will come to Association’s help. “We need to pay about Rs 17.16 crore immediately to upgrade from NPA status to standard account. We have already raised Rs 4.5 crore through gate money and in-stadia rights for the ODI. I have urged the Supreme Court-appointed Administrators of the BCCI to help us with the remaining shortfall of about Rs 13 crore,” Bagwan was quoted as saying by the Times of India.
Bagwan also confirmed that no cricketing activities will be hampered at the MCA stadium. “Today only I have got it clarified by the bank officials that the cricket activities will not be disrupted at all since it's a notional possession. They have said they will not let any of Maharashtra's matches or training session be hampered all through the season,” Bagwan was quoted as saying by The Hindu.
(The above story first appeared on LatestLY on Nov 06, 2018 10:45 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).