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PVP's Assets To Be Auctioned
By: Tupaki Desk | 2 Aug 2019 10:14 AM GMT
Canara Bank got ready to auction the assets of YCP Leader Prasad V Potluri. Failing to pay the loan borrowed on behalf of PVP Capital Ltd led to this situation. The debts has increased to Rs 148.90 crore and Canara Bank is trying to recover it with the auction of assets owned by the Industrialist.
In 2003, PVP Capital Ltd borrowed a huge amount as loan from Canara Bank. PVP and his wife Jhansi acted as guarantees to the loan borrowed. As the couple failed to payback, Canara Bank took the decision to auction the properties belonging to PVP Capital Ltd in Chennai.
Canara Bank issued a statement informing 24,355,29 sq ft of vacant land in Peramburu Village in Chennai will be auctioned.
In 2019 Elections, PVP had unsuccessfully contested from Vijayawada Lok Sabha Constituency on YCP Ticket. He lost MP Seat by a slight margin inspite of the YCP wave.
In 2003, PVP Capital Ltd borrowed a huge amount as loan from Canara Bank. PVP and his wife Jhansi acted as guarantees to the loan borrowed. As the couple failed to payback, Canara Bank took the decision to auction the properties belonging to PVP Capital Ltd in Chennai.
Canara Bank issued a statement informing 24,355,29 sq ft of vacant land in Peramburu Village in Chennai will be auctioned.
In 2019 Elections, PVP had unsuccessfully contested from Vijayawada Lok Sabha Constituency on YCP Ticket. He lost MP Seat by a slight margin inspite of the YCP wave.
