Aarogyam Nursing Home shut down after failing to repay 2.45 crore loan
Court-ordered action sees Bank of Baroda sealing Sidhgora-based medical facility due to unpaid debt.
JAMSHEDPUR – Local nursing home faces closure as bank takes possession over significant loan default.
Aarogyam Nursing Home in Sidhgora area has been sealed by Bank of Baroda following a court order due to unpaid loans.
The medical facility, located on Main Road, allegedly defaulted on a loan amount of approximately 2.45 crore rupees.
"The sealing process was carried out in the presence of court officials," confirmed a Bank of Baroda source.
The owners face charges in the Debts Recovery Tribunal (DRT) for failing to repay the loan.
Sources reveal that a case has been registered against the nursing home owners in the DRT.
"This action was taken after exhausting all other options for loan recovery," stated a bank source with knowledge about the proceedings.
The bank may now proceed with attaching the property and potentially auctioning it off to recover the outstanding amount.
This incident highlights the growing issue of loan defaults in the healthcare sector and its impact on local medical services.
