Company defaults in repayment of loan from BoB

Vadodara, Mar 21 (UNI) A private firm, Apoorva Aluminium company, has allegedly defaulted in repayment of a loan of Rs 6.10 crore, taken from Raopura Branch of Bank of Baroda (BoB).

Branch manager Ashok Kumar Jaiswal, in his complaint to police, has alleged that Mumbai-based Pravinchandra N Shah and six partners had taken loan for their local aluminium factor in 1995 and were now defaulting on re-payments.

Mr Jaiswal had alleged that the seven partners had acquired the loan of Rs 6.10 crore from the branch in 1995. However, after repaying the bank instalments for several years, they stopped re-payments and closed down the factory.

Other partners charged in the FIR are Hitesh H Shah, Kalpesh D Shah, Dakshehsh H Shah, all residents of Mumbai, Babulal N Shah, Pankaj N Shah, both residents of Ahmedabad, and Jayesh H Shah, a local resident.

Police has registered a case of cheating against all seven partners of the factory.

UNI