Union Bank releases notice to sell Sugar Factory of BJP Leader Pankaja Munde to recover Rs 203 crore loan default

The Vaidyanath Cooperative Sugar Factory, controlled by the family of BJP leader Pankaja Munde, will be e-auctioned by Union Bank of India to recover dues of Rs 203.69 crore.

Pankaja Munde (born 26 July 1979), also known by her married name Pankaja Munde-Palwe, is an Indian politician from the state of Maharashtra and National Secretary of Bharatiya Janata Party (BJP).

The auction will be held on January 25, 2024. Munde’s father, late Gopinath Munde, started the mill but it faced financial difficulties, including a GST notice and hardships during the COVID-19 pandemic.

Munde says she is prepared to contest the 2024 Maharashtra assembly elections and believes her party should give her a ticket.

Details of Case:

• Debt: Union Bank of India is auctioning the sugar mill to recover unpaid loans of Rs 203.69 crore.
• Date: The auction will be held online on January 25, 2024.
• Background: Munde’s family has controlled the mill for some time. Her father founded it and she managed it despite financial challenges.
• Political Future: Munde believes her party should field her in the upcoming state elections and says she is not looking for a new constituency.
• 2019 Defeat: Munde attributes her 2019 election loss to her cousin Dhananjay Munde taking away some of her votes.
• Political Landscape: Munde compares her situation to NCP leader Supriya Sule’s, suggesting they both faced similar political challenges at different times.