Parvez has been declared a defaulter by the Bank of Baroda's Badaun branch for failing to pay up Rs 12 crore in dues, reported TOI.
According to the bank officials, the bank is now now planning to auction his property that was mortgaged with the bank. It was also made clear that Parvez will have to disclose his liabilities in the nomination form and that it would have to include details about the Rs 12 crore-loan.
Regional manager (Bank of Baroda), Bareilly region, P J Bhalia said, "The loan had been taken from the Badaun branch by the AAP leader around two years back for setting up a college. However, due to unknown reasons the project failed to take off and the borrower started defaulting on the payments. We became concerned and started following up the matter with Parvez."
Bhalia added, "I had personally rung him up two days back to enquire when he would repay the loan amount, which is increasing everyday with interest piling up."
Regarding the decision on auctioing his property, the bank official said, "This has come after serving of a notice under the related act by the bank to which the AAP leader failed to respond."
Parvez refuted the charges levelled against him and said the bank acted in an arbitrary manner by advancing the repayment period by a year without taking into consideration "difficulties" faced by him. "Still, I have mortgaged enough assets by auctioning which the bank can realize the outstanding amount," he said.
Parvez' s candidature from Moradabad had triggered a controversy, with regional convenor Vishal Sharma and secretary Dilip Nagina dubbing him an "outsider" whose ticket was cleared by the party leadership "without taking the local unit into confidence".