NASHIK: The Nashik District Central Cooperative (NDCC) Bank has started the process of auctioning the property of Renukadevi Industrial Powerloom Womens’ Cooperative Society in Malegaon to recover its outstanding loan of Rs 7.5 crore and the interest of Rs 24.5 crore.
The NDCC Bank has called the parties that wish to participate in the auction to visit the property so that they can participate in the bidding process.
In 2012-13, the NDCC Bank was headed by Advay Hiray as its chairman. It gave a loan of Rs 7.5 crore to the society which was then headed by his mother Smita Hiray, who was the chairperson of the ‘Renukadevi Society’.
“Since it was never repaid, the NDCC Bank finally carried out various actions including registering the complaint with police under section of Maharashtra Protection of Interest of Deposit leading to his arrest,” said a senior officer from the bank.
Advay Hiray is in judicial custody. Sources from Hiray family offered no comment at this point of time.
It may be recalled that when Advay Hiray was arrested by the police, the Shiv Sena (UBT) leaders in the district and at the state had denounced the action against him.
Hiray, is the grandson of former state minister Pushpatai Hiray, and has been at the forefront in criticising district guardian minister Dada Bhuse. The Hirays are an influential family in Nashik district and run several educational and other organisations across the district.
Advay Hiray unsuccessfully contested assembly election in 2014. He joined Shiv Sena (UBT) in January 2023 and had then expressed fear of political vendetta against him.
