**Bhubaneswar: ** Since a pretty large amount of loan borrowed from the local branch of Urban Cooperative Bank has been pending with the loanee shop owners of this capital city for an outstanding period despite repeated warnings, the Khurda Deputy Registrar of Cooperative Societies (DRCS) led his team of officials under police security for recovery of the bad loans today.
Talking to media, Khurda DRCS Sabir Panda said, “A large amount of outstanding loan lent by Urban Bank is yet to be recovered. Our officers used to go around the houses of the loanees, but the defaulters were neither paying heed to it nor were paying off.”
“Hence, we took the help of the police and taking action as per the law,” he remarked.
Further informing he said, “This shop owes an outstanding amount of Rs 36 lakhs. Not a single rupee has been paid off. If we collect the outstanding loan amount, we could return it to the bank depositors.”
“About Rs 30 crore loan pending like this. We’ll seal the shops, put them on auction and whatever money would be gained the loan could be recovered. If the money becomes insufficient, we’ll adopt other means, like raiding the houses of the defaulters, and the steps as legal provision permits,” the Khurda DRCS concluded.
**Also Read:** [Puri MLA Protests ‘Dhadi Darshan’](https://www.ommcomnews.com/odisha-news/puri-mla-protests-dhadi-darshan-)
**Also Read:** [Odisha CM Inaugurates ‘Nirman Kusuma’, Facilitates Financial Aid To Construction Workers’ Sons, Daughters](https://www.ommcomnews.com/odisha-news/odisha-cm-inaugurates-nirman-kusuma-facilitates-financial-aid-to-construction-workers-sons-daughters)