Allegation: The bank cheated and sold a hotel worth crores for just 75 lakhs.

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Nainital: The case of sale of Anamika Hotel in Nainital under conspiracy by Allahabad Bank auction has come to light. Sudrid Sudarshan Sah, the representative of the hotel in the case, has alleged that his 23-room hotel, dining hall, conference hall and parking lot, worth around Rs 50 crore, has been fraudulently sold for just Rs 75 lakh.

He complained about this to the District Magistrate of Nainital. The report of the inquiry committee constituted by the District Magistrate has come out on his complaint. This has been confirmed in the inquiry report submitted to the DM by a committee of Nainital ADM Ashok Joshi, SDM Haldwani Manish Kumar Singh and Lead Bank Manager.

According to the investigation, Suhrid Sudarshan Sah had sanctioned loans of Rs 19 lakh on April 27, 1989 and Rs 12 lakh on November 10, 1990 from Allahabad Bank-now Indian Bank Nainital for the construction of a hotel for his firm. Anamika Tourism Complex In this case, Allahabad Bank gave an affidavit in the Allahabad High Court that for the recovery of this loan, Allahabad Bank asked on April 12, 2003 in the daily Badri Vishal newspaper of Haridwar district instead of Nainital under the Surface Act. A recovery notice of Rs 2 crore 44 lakh 79 thousand 469 was published, but Sah alleged on the basis of a certificate issued by the newspaper that the news was not published between April 12 and 15. Also, the notice should be published in the most widely circulated newspapers in Nainital. Thus, his property was auctioned in favor of Shriram & Sons Amroha Company prior to the conspiracy on the basis of false affidavit.

On the other hand, it was stated by the bank that the hotel owner’s account became NPA on August 2, 1994 due to non-payment of installments on time. He stated with a copy of newspaper Badri Vishal that the notice was published on 12th October 2003 and not on 12th April 2003.

In this case the inquiry committee has questioned the functioning of the bank management for not publishing the notices in two Hindi and one English newspaper with national or maximum circulation. Also, proof of receipt of demand notice sent by the bank to the hotel on January 24, 2003 has also not been furnished. The inquiry report also questioned the fact that instead of publishing the notice within 7 days of the demand notice dated 24th January 2003, it was published much later in the newspaper. A case in this regard is also pending in DRT Dehradun.