Nagpur: The Nagpur Municipal Corporation (NMC) cracked whip on an advertising joint venture firm leading to attachment of their property, a towering building on East High Court Road, at Ramdaspeth, for recovery of Rs 6 crore dues. The building houses a Bonsai shop,people gym and the same was attached by a team of the civic body on Tuesday.
The defaulting firms are M/s Yash Advertisers and M/s Suyash Mart Pvt. Ltd, the two had jointly bid for advertising rights to 550 banners. This is the first major action on part of NMC in the New Year as it takes the issue of non fulfilment of bond on part of the private agencies.
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10 May 2025
Milind Meshram, Deputy Commissioner, NMC, said that the firm had bid Rs 1.15 crore to bag rights for outdoor advertising in Nagpur. The JV firm had only paid Rs 37.35 lakh, the first quarterly instalment to NMC, and guarantee money. Thereafter the firm simply forgot its commitment and did not pay the amount despite continuous reminders from the Advertising Department of NMC. Every time the NMC sent a reminder, the representatives of firm would visit the officials and express the commitment to clear the dues and sought time to make payment, Meshram said
He further said that this went on for three to four times. Finally the NMC bosses decided to act tough and on Tuesday orders were issued to seize the property of defaulting firms. The entire building was sealed and NMC has taken it over and put its seal. Similarly, the contract for outdoor advertising in respect of 550 banners stands was re-auctioned by NMC. The total dues with the firm for the last three-years is Rs. 2,39,55,273 and along with interest the entire sum comes to nearly Rs 6 crore.
