Excelsior Correspondent
JAMMU, Mar 2: Citizens Co-operative Bank Limited (CCBL) Jammu has realized an amount of Rs 21.35 lakhs in an auction of seized vehicles held here today.
The CCBL Jammu while giving impetuous to recovery drive in the delinquent accounts had seized various vehicles financed by the bank. These vehicles were kept parked at Bank’s Plot Number 7, situated at Transport Nagar Narwal.
A notification with regard to the auction of vehicles were given due publicity.
Number of persons participated in the auction process. The bank had made ample arrangements for aforehand inspection of the notified vehicles kept for disposal in the said auction.
The auction proceedings which commenced well in time experienced immense participation and all the vehicles stood disposed on competitive basis wherein the bank realized an amount of Rs 21.35 lakhs against the base price of Rs 13.63 lakhs.
The present management of Board of Administrators headed by Dr Arun Manhas informed that more such steps would be taken in future for recovering the money blocked in default loans.
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