Court allows Apex Bank to take physical possession of sugar factory
A local court has authorized the Apex Bank to take physical possession of the Malaprabha Cooperative Sugar Factory due to unpaid loans exceeding ₹153 crore. This follows a previous constructive possession that failed to resolve the debt.
Why it matters
The case illustrates the legal mechanisms used by financial institutions to recover bad debts from struggling cooperative entities.
A local court has issued orders enabling the Apex Bank to take physical possession of Malaprabha Cooperative Sugar Factory in Bailhongal of Belagavi district for non-repayment of over ₹153 crore loans.
The report focuses on legal and financial facts regarding a debt recovery case.
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