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Tag: United Bank Of India

Banks Sealed 4-Star ‘Park Plaza Hotel for Non-Payment of Rs 130 Cr Loan

Aug. 26 Economy, Unrest Strikes Comments

[Chandigarh] Banks Sealed 4-Star ‘Park Plaza Hotel for Non-Payment of Rs 130 Cr Loan
A four-star hotel in the heart of the Chandigarh city was today sealed by the bank officials over alleged non-payment of loan worth Rs 130 crore.
‘Park Plaza hotel’, located in upscale sector-17,was sealed by bank officials from Punjab National Bank+United Bank of India +State Bank of India with help of police force,
,As per police sources,The hotel management had deployed bouncers outside the hotel. However, after a three-hour-long ordeal, the hotel was sealed,
Acting on an application by the banks, the district administration had recently ordered taking possession of the hotel.
“Around 200 guests were asked to leave by the police,” a hotel employee said, adding “around 60 rooms of the hotel were booked”.
This has rendered jobless.250 staff members

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