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BJP leaders’ firm involved in Nagrota construction owes Rs 29.31 crore to JK Bank, account NPA

In a new twist to Nagrota case where Army had raised objections over building of a house by legislative assembly speaker and senior BJP leader Nirmal Singh, the firm HIMGIRI Infrastructure Development Limited involved in the construction owes Rs 29.31 crore to Jammu and Kashmir Bank.

The company incorporated in 2000 by senior BJP leaders in Jammu which was used to buy land next to the Army ammunition depot in Nagrota, owes Rs 29.31 crore to Jammu and Kashmir Bank, as per report published in The Indian Express.

“And its account was declared a non-performing asset (NPA) in December last year, records investigated by The Indian Express show,” stated the report.

Days later, on January 5 this year, present Deputy Chief Minister Kavinder Gupta and Assembly Speaker Nirmal Singh (he was Deputy CM then), his wife Mamta Singh and BJP Lok Sabha member Jugal Kishore, along with nearly 20 shareholders, promoters, directors and guarantors, received a notice from the bank under Section 13(2) of the Securitisation and Reconstruction of Financial Assets & Enforcement of Security Interest Act (SARFAESI), 2002, mentioned the report.

“As The Indian Express first reported on Friday, Singh’s wife and Gupta also owned land next to the Army depot. Singh received a strong letter from the Corps Commander of the Army’s 16 Corps, Lt General Saranjeet Singh, telling him to halt construction on the plot since it was illegal and a security risk to the ammunition depot and to the personnel who lived there,” stated the report.

Quoting Kavinder Gupta who is deputy chief minister of the state, the report said:“we are looking for a partner for finances so as to complete the remaining work” on the power project. “It (losses) can happen with anybody… What is so objectionable?… We have not done any fraud with the government”.

“Among others who have got a notice from the bank are Jyoti Parkash, Executive Director of Himgiri who has been an RSS pracharak in Bhaderwah, and Chairman Surinder Mohan Gupta, who is associated with the Dr Hedgewar Smarak Samiti. The bank’s notice has asked them “to clear the entire liability of Rs 29,31,13,578 together with costs, penal interest and other charges within 60 days from the date of notice”. In case of failure, it warns them, the bank may take possession or management of their secured assets, including the right to transfer them by way of lease, assignment or sale for realising the secured assets.” stated the report.

“The company mortgaged with the bank all its moveable (plant and machinery) as well as immoveable property, measuring 3.5338 hectares, at Protha, Sara and Rajindu areas of Chamba. Several of its directors have also mortgaged their landholdings. Kavinder Gupta mortaged his 10 marlas (1 marla is 272 sq feet) in Udhampur’s Omara area and Nirmal Singh mortgaged 3 kanals (1 kanal is 20 marlas) and 14-marla land at Sunjwan, Jammu. Himgiri Chairman Surinder Mohan Gupta and Director Satish Sethi mortgaged a hall on second floor in the commercial K C Plaza Complex, Vir Marg, in Jammu, together with all constructions. It was in 2014 that Himgiri went on to buy land next to the Nagrota Army ammunition depot,” said the report.

“We got the land registered in our name in 2014.The land was purchased by the company at the rate of Rs 12,500-Rs 15,000 per marla with an idea to invest money in property as our power project had already been delayed,” the report quoted Jyoti Parkash as having said.

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