Rs 65 cr loan default: Lookout notices for Narayan Rane’s wife, son

Photo: IANS (File)

Mumbai | In another embarrassment for Union MSME Minister Narayan Rane, the Pune police’s Crime Branch has issued a ‘Lookout Circular’ against his wife and legislator son in alleged loan default cases of over Rs 65 crore

Confirming to IANS that the lookout notices have been taken out on September 3, Deputy Commissioner of Police Shrinivas Ghadge, however, flatly declined further comment in the matter.

The lookout notices mention Rane’s wife Nilam Narayan Rane as a co-borrower of a loan account of Rs 25 crore in the name of Artline Properties Pvt Ltd and son Nitesh Narayan Rane as a co-borrower in a loan account of Rs 40 crore in the name of Neelam Hotels Pvt Ltd.

Both these loans accounts with the Dewan Housing Finance Ltd DHFL) Mumbai, were subsequently classified as ‘non performing assets’ (NPAs), as per the norms of the National Housing Bank and the Reserve Bank of India, say the police notices.

By IANS

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