Union MSME Minister and BJP leader Narayan Rane found himself in an embarrassing situation on Thursday, as the Pune Police Crime Branch issued a ‘Look Out Circular’ (LOC) against his wife Nilam Narayan Rane and MLA-son Nitesh Rane in an alleged Rs 65 crore loan default case.
The development came close on the heels of Rane’s arrest and subsequent bail over his controversial remarks against chief minister Uddhav Thackeray.
The LOC has been issued based on a complaint lodged by the DHFL with the Pune police. The LOC mentions Nilam Rane as a co-borrower of a loan amount of Rs 25 crore in the name of Artline Properties Pvt. Ltd, while MLA Nitesh N. Rane has been named as a co-borrower of a loan of Rs.40 crore taken in the name of Neelam Hotels Pvt. Ltd., both companies are based in Mumbai. Both these loan accounts stand with the DHFL Mumbai. They were classified as ‘non performing assets’ (NPAs), as per the norms of National Housing Bank and Reserve Bank of India.
Nilam Rane and Nitesh owe an outstanding of Rs 27,13,18,931 and Rs 34,09,61,771 respectively to the DHFL. The Pune Crime Branch has issued the LOCs against the mother-son Nilam and Nitesh Rane, to the Assistant Director, Look Out Cell, at Chhatrapati Shivaji Maharaj International Airport (CSMIA).
“In the aforesaid circumstances, there is an apprehension and fear that the said Co-borrower may leave the country anytime with a malafide intention to evade repayment of the loan granted by DHFL and escape the legal actions that may be taken against (them) civil/criminal by the DHFL,” the LOCs stated.
The LOC directed the Mumbai Airport authorities to open the LOCs, and whenever the Co-borrowers are intercepted at the airport, their arrival/departure it should be intimated to the Pune Police Crime Branch. Reacting to the development, Nitesh wondered as to how the Pune police issued LOCs against him and his mother considering that their loans and DHFL were in Mumbai.
“The LOCs should also be seen in the light of the fact that we had agreed to settle the loans taken from the DHFL,”Nitesh said.
Nitesh went on to target Maharashtra Minister and chief minister Uddhav Thackeray’s son Aditya Thackeray, by alleging that the latter was involved in a similar loan default case being investigated with by the Pune police. “Why have the Pune police not issued an NOC against Aditya Thackeray?,” the BJP MLA asked.
