Defunct Haryana Medical College now available for sale

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Tribune reports that the Gold Fields Shiksha Sansthan, a body that owned this institution, failed to clear the debt taken from Union Bank, Punjab National Bank, Bank of Baroda, Bank of Maharashtra, Central Bank and the Allahabad Bank. The amount of debt is estimated to be around Rs 235 crore.

With the aim of recovery, the medical college had earlier been put by the banks for auction in 2018, but did not find suitable bidders probably due to high reservation price. The medical college is now going to put for e-auction with a 25% lesser reservation price of Rs 174 crore

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Sanjay Sharma, Technocraft Financial Services, from the consultancy engaged in the auction process confirmed to the Tribune “As the building was sealed in March last year, the banks have moved to recover outstanding dues through the auction of the property, which includes the land, building, and other infrastructure,”