Bank of Baroda Branch locked for not paying rent in Bengaluru

- Advertisement -

In Bengaluru, the Bank of Baroda branch and the post office located on the ground floor of the Netaji Subhash Chandra Bose Public Utility Building (PUB) on MG Road have been forcefully closed by civic authorities due to their failure to pay rent.

Bank of Baroda Branch locked for not paying rent in Bengaluru
Bank of Baroda Branch locked for not paying rent in Bengaluru

The Bank of Baroda occupies shop no. 14/15, while the post office occupies shop no. 17 within the PUB. According to a senior revenue official of BBMP, the bank has not paid the revised rent since 2011, accumulating a total debt of Rs 17.5 crore. This amount includes Rs 7.6 crore in rent arrears, Rs 1.2 crore in pending CST/GST, and Rs 8.6 crore in accrued interest.

Despite multiple notices and reminders to settle their dues, the bank did not comply, leading to the sealing of its premises by BBMP officials and staff, with police providing security during the process.

- Advertisement -

Similarly, the post office has been paying the old rent since 2006 but failed to pay the revised amount. As a result, it now owes Rs 2.3 crore, including Rs 93.2 lakh in rent arrears, Rs 10 lakh in pending CST/GST, and Rs 1.2 crore in interest.

The decision to seal both premises was made following directives from the eastern zone commissioner. The sealing process was carried out early in the morning on a Saturday at 6:45 am, marking the culmination of efforts by civic authorities to enforce compliance with financial obligations.

- Advertisement -

Share this article...

Comments

3 COMMENTS

  1. Good job by BBMP officials. Some executives in banks feel that they are monarch and not deciding rent enhancement. Premises owners are suffering with the acts of such arrogant officials.

    It’s a lesson to the bank high level officials who are not proper in decision making.

  2. Whether no suit is pending in Bangalore court in this matter and whether interim stay is brought by BOB, if there is interim order then BBMP decision. Invites contempt of court.

  3. This s way the officers of public sector banks function, too many officers, nobody takes any decision. May be they are afraid of taking decisions or afraid of money. Afraid of giving loans and even afraid of taking bulk deposits.
    All the concerned officials both past and present should be mad accountable & chargeable

    They don’t pay premises rents to landlords, no recruitment of staff, no maintenance of cleanliness of branches, problems and problems everywhere and solutions no-where

    Don’t know what really these bank officials do ?

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More News...

Latest

Finance Ministry to review Pension System, Meeting will be held on this date

Finance Ministry to review Pension System, Meeting will be held on this date

South Bihar Gramin Bank announced strike on 15 and 16 July

South Bihar Gramin Bank announced strike on 15 and 16 July

Salary of Kotak Mahindra Bank’s CEO; Check Salary, Allowances and other benefits

Salary of Kotak Mahindra Bank's CEO, Check Salary, Allowances and other benefits

Central Bank of India held Liable By NCDRC For Overcharging EMI

Central Bank of India held Liable By NCDRC For Overcharging EMI

State Consumer Commission Upholds Canara Bank’s Appeal in Motorcycle Theft Case

State Consumer Commission Upholds Canara Bank's Appeal in Motorcycle Theft Case

Consumer Case Against SBI Cards: Kolkata Commission Orders Full Compensation

Consumer Case Against SBI Cards: Kolkata Commission Orders Full Compensation

Consumer Forum Holds Union Bank of India Liable for ATM Transaction Error

Consumer Forum Holds Union Bank of India Liable for ATM Transaction Error

Bank of Maharashtra Recruitment 2024, 195 Vacancies, Download Notification PDF

Bank of Maharashtra Recruitment 2024, 195 Vacancies, Download Notification PDF

Which is the most powerful country in the world? Top 10 most powerful countries List [Updated]

Which is the most powerful country in the world? Top 10 most powerful countries List

Banker left her job to become YouTuber, She now earns Rs.8 crore a year

Banker left her job to become YouTuber, She now earns Rs.8 crore a year

Latest News