IDUKKI: An individual had used a property, which included a police station and quarters, as collateral to secure a loan from a private bank. They pledged 2.4 acres of land as collateral.
Subsequently, due to non-payment, the property was confiscated and put up for auction. The incident came to light when the person who purchased the land demanded that it be measured and distributed.
Ciby Rameshan, a native of Vellathooval in Idukki district, had submitted the property, which included the police station and quarters, as collateral years ago to obtain a loan from the Adimali branch of a private bank.
As loan repayments ceased, the bank took action and enforced foreclosure through the Debt Recovery Tribunal.
In 2012, the auctioned land was acquired by KP Joshi, a resident of Nayarambalam in Ernakulam district.
Later, Joshi approached the District Revenue Officer (DRO) to measure the boundary of the land. It was only then that it was discovered that the Vellathooval police station and its surroundings were also included in the property.
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