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BoI serves notice on Erode hospital

Our Bureau

Coimbatore , Aug. 28

BANK of India has served a 60-day notice under the Securitisation Act on a private hospital in Erode. Dr M.K. Selvaraj, promoter of the multi speciality hospital, is said to have defaulted to the tune of Rs 1.5 crore in loan repayment.

The borrower, bank sources say held a deaf ear to the banker's offer of a compromise formula for settling the dues, forcing them to slap the notice.

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