Loan default, Banks take over stadium in Pune

Hours after the Bank of Maharashtra announced “symbolic possession” of the Maharashtra Cricket Association’s (MCA) international stadium at Gahunje, on the outskirts of Pune, through a possession notice published in regional newspapers, the MCA Secretary Riyaz Bagwan stressed “cricket activities will not be disrupted”.

The bank notice stated that the banks have taken possession of the state-of-the-art stadium – in doldrums ever since the MCA’s title sponsorship deal with Sahara group was abruptly terminated in 2012 – on November 2, on the second day’s play of Maharashtra’s Ranji Trophy season-opener versus Vidarbha.

“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,” Mr. Bagwan told The Hindu from Pune on Monday. “They have said they will not let any of Maharashtra’s matches or training session be hampered all through the season.”

Maharashtra is scheduled to play at least two of its remaining three home games in the Ranji Trophy league stage at the Gahunje stadium. Besides, some of the junior matches are likely to be hosted at the stadium.

According to a possession notice published in Loksatta, a Marathi newspaper, by the Bank of Maharashtra, the bank has taken “symbolic possession” of the Maharashtra Cricket Association international stadium at Gahunje on November 2. The bank had no choice but to take over the stadium since the MCA has failed to repay the dues of Rs. 69.53 crore to four banks, including BoM.