Builder Deepak Nilawar’s bungalow sealed over loan default

Nagpur: Owing to prolonged pending debt, the Shikshak Sahkari Bank (SSB) on Wednesday sealed builder Deepak Nilawar’s Rahate Colony based bungalow in presence of Tehsildar.

According to sources, Deepak had applied for loan of Rs 2.67 crore at SSB for his construction company Maa Revati Construction and Developers in 2017. Later due to over-drafting the loan amount went up to Rs 5.5 crore. Following this, SSB had issued several letters and guidelines to Deepak regarding his debt.

As Deepak didn’t follow the official’s guidelines, the bank officials in presence of Tehsildar Aabha Waghmare approached Deepak’s Rahate Colony based residence at around 2pm on Wednesday and sealed the house.