24 properties mortgaged for loan of Rs 250Cr

Aurangabad, March 14:

Aurangabad Municipal Corporation (AMC) has taken Rs 250 crores loan from a bank for which, around 24 properties have been mortgaged.

The loan of Rs 250 crores has been taken for paying AMC’s share for the Smart City Scheme. The bank has demanded a mortgage for the loan.

Earlier, AMC has taken a loan amounting to Rs 200 crores for parallel pipeline and to pay the outstanding electricity bills from the bank, for which 24 properties were mortgaged. After repaying the loan, AMC registered these properties in its name again.

Now, for the loan of Rs 250 crores, AMC has submitted a list of 30 properties, of which, more than 24 will be mortgaged.