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Posted at: Jun 14, 2018, 2:07 AM; last updated: Jun 14, 2018, 2:07 AM (IST)

4 years on, Sangrur nagar council fails to repay loan

Tribune News Service

Sangrur, June 13

The Sangrur Nagar Council had taken a loan of Rs 8 crore from the local Improvement Trust for undertaking development works in 2014, but till date it had not paid even a single instalment.

The council had assured to repay the amount in 10 instalments till February 19 next year. However, it has been four years since the release of the loan amount and the trust authorities are still awaiting the repayment.

“Had the authorities utilised Rs 8 crore to provide better facilities to residents, we would not have been facing serious civic issues,” said Sukhwant Singh, a resident.

Though the trust authorities issued notices to the council for the recovery of the loan, the latter reportedly did not respond to the notices.

“We have not paid even a single instalment because of financial crisis. We have offered to transfer our Fire Control Department land to the trust, but they are offering only Rs 10-12 crore while the value of the land is Rs 16-18 crore,” said Amrit Lal, Executive Officer.

Neeru Bala, Executive Officer of the trust, said since both the trust and the council were under the Local Bodies Department, they had decided to take up the matter with their seniors.

“With penal interest, the loan amount has swelled to around Rs 11.50 crore, but the council authorities are still not taking it seriously. We have decided to take up the matter with our seniors in Chandigarh,” she added.

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