Filmmaker Ravi Chopra's second bungalow at Khar (West) has been sealed by Cosmos Bank for non-repayment of loan worth approximately Rs. 61.10 lakh.
On May 23, Cosmos Bank officials sealed the property and stuck two possession notices under rule 8 (1) on bungalow number two. On January 2, Cosmos bank had issued two demand notices to Ravi Chopra asking him to pay Rs. 67.43 lakh, including further interest till payment, within 60 days.
Since this property was attached with the loan and Ravi didn't repay the loan the Bank officials had no other option but to seal the bungalow. The bank has attached the property under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, and the Security Interest (Enforcement) Rules 2002.
Bungalow number one which is adjoining to bungalow number two was attached by Kotak Mahindra Bank officials on May 16 for not repaying the loan of Rs. 3.52 crore approximately.
The land on which the two bungalows is worth approximately Rs.15 to Rs. 20 crore.
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