DC attaches CC Sangderpa’s Sichey house against Rs. 1.20 crore loan default

GANGTOK, 19 Feb: Former Chairperson, CC Sangderpa has been served with the Certificate of Attachment by the District Collector [East] under the Sikkim Public Demand Recovery Act 2002 on failing to repay a loan taken from the State Bank of Sikkim. The District Collector is the Certificate Officer under the Sikkim Public Demand Recovery Act 2002.
According to sources at the DAC, Ms Sangderpa had taken a loan of Rs 1.20 crore against a five and a half storied building and land at Sichey in East Sikkim and till the time of filing of recovery case by the SBS, the loan amount had come to Rs 1.45 crore.
Sources inform that initially, Ms Sangderpa had taken a loan of Rs 20 lakh from SBS repayable in installments of Rs 36,880 per month. She then asked for additional loan and the final sanctioned loan amount was Rs 1.20 crore repayable in installments of Rs 2 lakh per month.
As on 15 April 2010 Ms Sangderpa had repaid Rs 69,228 of the total amount due to the bank after which no payments were made, it is informed.
SBS filed a petition with the DC for the recovery of Rs 1.45 crore [including interest] from Ms Sangderpa on 19 July 2011 and a notice was issued to her the same day. She was asked to repay the amount by 27 August 2011, which she failed to do.
SBS again filed an Execution Petition on 26 November last year and for the same a hearing was held in the DC office on 17 December later that year following which the date of repayment was extended. However, Ms Sangderpa again failed to repay the loan by the fixed date.
Sources inform that the DC then issued the Order of Attachment against Ms Sangerpa for the seizure of her property located at Sichey. With this order, she is now not allowed to sell this property or undertake any financial dealing attached with this property. A total of 2818 sq ft land was allotted by the UD&HD to Ms Sangderpa at Sichey, where she has constructed a building.
The next course of action will be auction of the property in due course as per the law. However, it is learnt, that the DC’s office has still given her time till the time of auction to repay the loan amount.
For the auction, the attached property will be assessed and from the amount raised from the auction, the loan amount due will go to the bank while the rest will be provided to the defaulter.
It is learnt that this is the routine procedure undertaken by the District Collector against defaulters of loans of SBS, SIDICO, SABCO and Sikkim Housing Development Board. There are around 60 such cases before the District Collector at present.