Jalandhar, August 2, 2019 (Yes Punjab News)
Senior Congress leader Daljit Singh Ahluwalia, who has recently taken over as Chairman of Jalandhar Improvement Trust is keen to bring the cash-strapped organization out of financial crisis.
Ahluwalia, who has already initiated efforts to ease out the situation, today held a meeting with the management of Punjab National Bank, the bankers to Jalandhar Improvement Trust.
PNB team led by AGM Mr KC Gagarini visited Ahluwalia in his office and discussed the options of a viable settlement between the Trust and the Bank.
Sources said the Trust owes Rs. 105-crore to the Bank and Trust properties worth Rs.577-crore stand pledged with the Bank. This includes Rs.288-crore Guru Gobind Singh Stadium in the heart of the city. However, the Bank is having symbolic possession of the stadium.
Ahluwalia pleaded with the bank authorities that the Bank should hold the property of the Trust covering the amount of debt and the rest of the property should be released forthwith.
The Chairman also said that the Trust would be giving a proposal for One Time Settlement of the loan wherein it would request for the waiver of Rs.25-30 crore.
Ahluwalia directed Trust Accounts officers and officials to visit the Bank on Monday and draft a OTS proposal after having all the details of the account and studying all the options available.
