Pune: Look-out circular has been issued by the authorities against the wife of the Narayan Union Minister Rane Nilam and MLA-Son Nitesh in connection with cases related to unpaid loans taken from financial institutions, said a senior Pune Pune official on Thursday.
Circular Look-out is a notification that prevents someone from leaving the country.
Confirming Development, Deputy Commissioner of Police (crime) Srinivas Ghadge said that looking around was released against Patchouli Rane and Nitesh Rane on September 3.
He said the Artline Properties Pvt Ltd (the main borrower), a company owned by Patchouli Rane, has succeeded.
RS 25 Crore loans from DHFL (Finance Corporation Housing Corporation Ltd) where it is a shared and extraordinary borrower on accounts over RS 27.13 Crore.
Likewise, Nilam hotels, owned by Nitesh Rane, have used loans from the extraordinary private financial institute of more than RS 34 Crore, DCP said.
Both loan accounts are then classified as NPA (non-performing assets – expressed due to default or arrears) by DHFL because non-payment, he said.
Because both accounts were classified as NPA, financial institutions approached the center, which later issued direction to the state government and as a result, a round shelter was released, he said.
Look-out circular, aimed at Mumbai airport and published against Patchouli Rane, stating “there are fears that the borrower can leave the country anytime with the intention of Malafide to avoid payment of loans provided by DHFL and escaping actions that might be taken”.
“To open the Loc (circular look-out) of the borrower is needed so that the travel history of co-borrowers must be maintained and the avoidance of payment of loans available from DHFL should be avoided,” read circles.
Pune Police, in their notification, have asked the airport authority to tell them whenever the borrower’s borrower borrower is intercepted at the airport.
Rane’s wife, Son Face Lookout circulars
