Richest MLA candidate in further trouble as bank takes over property

A bank has taken symbolic possession of a Worli flat belonging to Mohit Kamboj for non-payment of a R30-crore loan; Kamboj stood as a guarantor for the loan

He was the richest candidate in the Maharashtra Assembly polls held almost a year ago. However, in the last six months, Indian Bullion & Jewellers Association president Mohit Kamboj has had two public notices issued against him by banks for taking possession of his properties in cases of outstanding loans. Kamboj, who lost the Dindoshi seat on a BJP ticket in the Maharashtra Assembly polls, had declared assets worth Rs 350 crore and was the richest amongst all the candidates.

Also read: Bank takes over property of state's richest MLA candidate

Mohit Kamboj

Earlier on August 15, mid-day had reported that a bank had taken possession of property belonging to Kamboj for non-repayment of a loan of R68.01 crore (‘Bank takes over property of state’s richest MLA candidate’). Now Kamboj has received another notice in November in an outstanding loan of Rs 30 crore, for which the bank has taken symbolic possession of his Worli flat in Avarshekar Heights. Like the last time, Kamboj maintains that he was only a guarantor to this loan (Rs 30 crore), and says that the borrower couldn’t repay the amount.

The notice issued in November by Bank of India’s Opera House Mid Corporate Branch, calls upon the borrower/guarantors Miksha Gold Jewellery Ltd, Mohit Kamboj, Deepak Kamboj, Pinki Kamboj, Jitendra Kapoor and KBJ Jewellery to repay the aggregated amount or Rs 30.90 crore (the loan amount). Since the guarantors/borrowers have failed to repay the amount, Bank of India has taken symbolic possession of the property owned by Mohit Kamboj, Deepak Kamboj, and Pinki Kamboj.

The property is Flat No 3001, 30th floor, Avarshekar Heights, opposite City Bakery, Worli Naka. The flat measures 2,324 square feet.

When mid-day contacted Bank of India’s Opera House branch, a senior officer said, “The notice has been published and the outstanding amount has not been paid yet.” Arvind Singh, chief manager of Bank of India said, “We cannot discuss someone’s personal outstanding dues, but it’s confirmed that the loan amount hasn’t been paid yet.”

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