Bank officials in Nagpur sealed the residence of renowned city builder Deepak Nilawar for non-payment of loan on Wednesday. It was said that while the process of sealing the residence was being done, Nilwar left the place immediately although his family members were present.
According to reports, Nilwar had obtained a loan of Rs 2.75 crore under his company Revati Construction and Developers in 2017 from Shikshak Sahakari Bank. However, the account became overdraft. Since the time the loan was obtained, the instalments were paid irregularly and the loan gradually increased to a total of 5.50 crore.