Bank of Maharashtra takes the symbolic possession of the MCA stadium in Pune

Bank of Maharashtra takes the symbolic possession of the MCA stadium in Pune

Meanwhile, the MCA has asked the BCCI CoA to release the funds.

MCA stadium
MCA stadium. (Photo Source: Twitter)

MCA Stadium in Pune recently hosted the third ODI between India and Windies successfully in which the visitors came out on top to level the series. There were no issues with the stadium at that point in time as the organisers did a fair job. But the things have suddenly changed for the MCA. They have defaulted in making their payments to the bank which has led to the Bank of Maharashtra taking over the symbolic possession of the venue.

A consortium of banks has taken over the MCA. However, the cricket activities at the state-of-the-art complex will not be affected according to the Mahrashtra Cricket Association (MCA) secretary. The possession notice published in the Marathi Daily Loksatta conveys that the Bank of Maharashtra took over the Stadium in Gahunje on November 2.

MCA failed to pay dues of Rs 69.53 Crore

According to the notice, the banks had served MCA a 60-day notice in August to clear all its dues. In the end, they were left with no option but to take the symbolic possession of the property as the MCA failed to repay the dues of Rs 69.53 Crores to Bank of Maharashtra, Karnataka Bank, Bank of Baroda and Andhra Bank.

“Today only I have got it clarified by the bank officials that the cricket activities will not be disrupted at all since it’s a notional possession. They (the banks) have said they will not let any of Maharashtra’s matches or training session be hampered all through the season,” the MCA secretary Bagwan was quoted as saying by the National Daily Hindu.

MCA, meanwhile, has requested the BCCI CoA to release the funds to the State Body and is confident of resolving the issue at its earliest. We need to pay about ₹17.16 crore immediately to upgrade from NPA status to standard account. We have already raised 4.5 crore through gate money and in-stadia rights for the ODI. I have urged the Supreme Court-appointed Administrators of the BCCI to help us with the remaining shortfall of about 13 crore,” Bagwan further added.

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