Wednesday, June 3, 2015

#UBI staff protest in front of @vikram_hospital for Rs.100 cr loan recovery

Officials of United Bank of India staged a demonstration before Vikram Hospital on Miller's Road on Tuesday to recover a loan of Rs 100 crore.About 16 bank officials were taken into custody for protesting in front of the Hospital and were later released.
United Bank of India authorities put out a note that stated: "Vikram Hospital (Bangalore) has availed loan facilities from our bank. They are enjoying loan facilities from us since 2009 against the securities of entire current and fixed assets of the hospital situated on Miller's Road. The hospital is presently run by Dr Vikram and Multiple Private Equity Ltd headed by Ms Renuka Ramnath, previously chief of ICICI Venture Capital Limited. Though the hospital is running with full occupancy, they are not making any repayment in their loan accounts. Hence, the account became an NPA (non-performing asset) in January 2012.
Sudhir Pai, the executive director and CEO of Vikram Hospital told local media they have been holding talks with the bank for restructuring of the Rs.100 crore loan.But bank authorities say they are not in favour of restructuring the loan.
Vikram Hospital is one of the preferred hospitals for the rich and famous of Karnataka.Chief Minister Siddaramaiah, actor-turned politician M.H. Ambarish and late Srikantadatta Narasimharaja Wadiyar from the erstwhile princely state of Mysuru, had underwent treatment at the hospital.