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Bank seals engineering college property over unpaid loans

Jan 14, 2025 09:10 AM IST

Bank of Baroda seals campus of Abhinav Education Society’s College of Engineering and Technology in Bhor taluka over unpaid loans amounting to ₹32.03 crore

PUNE: Bank of Baroda has sealed the campus of Abhinav Education Society’s College of Engineering and Technology in Bhor taluka over unpaid loans amounting to 32.03 crore, leaving the future of over 800 students and their families hanging in the balance.

Bank of Baroda seals campus of Abhinav Education Society’s College of Engineering and Technology in Bhor taluka over unpaid loans amounting to <span class='webrupee'>₹</span>32.03 crore. (HT)
Bank of Baroda seals campus of Abhinav Education Society’s College of Engineering and Technology in Bhor taluka over unpaid loans amounting to 32.03 crore. (HT)

The college – located around 5 kilometres from Bhor city near Bhatghar Dam – has been shut down after Bank of Baroda seized the property following a court order over unpaid loans amounting to 32.03 crore.

A senior bank official on condition of anonymity said, “The bank has taken control of the college building and 14 hectares of land, citing the defaulted loan. On January 6, the bank evicted approximately 800 students from the hostel and sealed the premises, deploying round-the-clock security.”

The closure affects around 1,100 students across six diploma branches; 550 students in five engineering degree programmes; and 250 students from the English medium school on campus. Students are now uncertain about their future, with engineering exams scheduled to begin on January 17.

Around two months ago, when the bank officials initially attempted to take possession of the property, students protested, urging the authorities not to disrupt their education. Despite their efforts, the bank moved ahead with the court-mandated action after college hours on January 6.

Rajiv Jagtap, president of Abhinav Education Society, assured the students and their parents that efforts are underway to resolve the issue. “We are negotiating with Bank of Baroda to regain possession of the college and resume operations. To prevent academic losses, we plan to start online classes. We aim to reopen the college before the exams on January 17,” said Jagtap.

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