Unable to repay loans, resorts amongst 163 Kangra properties stare at public sale : The Tribune India

Tribune Information Service Lalit Mohan Dharamsala, Could 22 Two years of Covid recession and the declining vacationer footfall have taken a toll on resorts and different business properties in Kangra with 163 of those both being sealed or on the verge of it for faltering on mortgage compensation. […]


Tribune Information Service

Lalit Mohan

Dharamsala, Could 22

Two years of Covid recession and the declining vacationer footfall have taken a toll on resorts and different business properties in Kangra with 163 of those both being sealed or on the verge of it for faltering on mortgage compensation.

As per knowledge collected by The Tribune, most of those properties comprise resorts, that are dealing with motion beneath the Sarfaesi (Securitisation and Reconstruction of Monetary Property and Enforcement of Safety Curiosity) Act, 2002. The banks have approached the district authorities to get these properties auctioned to get better their dues.

This week, two well-known resorts had been sealed in Dharamsala beneath the Act, which empowers banks and different monetary establishments to take over and public sale properties that flip NPAs (non-performing belongings) after loans are usually not repaid. The orders to seal the properties are given to the banks by district magistrates. Kangra Deputy Commissioner Nipun Jindal mentioned proceedings in dangerous debt circumstances had been carried out on the request of banks and the 163 circumstances could have piled up over the previous 12 months. The Higher Dharamsala Resort and Restaurant Affiliation has blamed Covid and the sluggish vacationer season after the pandemic for resorts being unable to clear dues. Affiliation president Ashwani Bamba additionally put the onus on the federal government for allegedly failing to advertise tourism within the state regardless of the sector being a serious GDP contributor and employment generator.

After Covid, a lot of vacationers have been visiting Kashmir and Uttarakhand. The resorts in Kashmir are packed until July whereas the Uttarakhand Authorities’s Char Dham Yatra too has attracted a lot of vacationers. “Not like Jammu and Kashmir and Uttarakhand, the Himachal Tourism Division has did not make its presence felt at main fests which can be organised in numerous components of the nation to woo vacationers,” mentioned Bamba.

Kangra hoteliers say poor connectivity and excessive airfares to the area had been additionally liable for the declining vacationer footfall. The airfare to Dharamsala is among the many highest within the nation and it’s unlikely to come back down until the Gaggal airstrip is expanded to allow touchdown of larger planes. The enlargement proposal has been hanging hearth for years and even the land acquisition course of is but to start out.

Sources mentioned the hoteliers had been planning to method the state authorities to hunt reduction for the properties dealing with motion beneath the Sarfaise Act.

Hoteliers blame it on state govt

  • Banks sealed the properties and listed them for public sale after they turned NPAs
  • Hoteliers blame Covid and declining vacationer footfall for poor enterprise
  • In addition they put onus on Himachal Pradesh Authorities for ‘failing to advertise’ the tourism sector


#himachal tourism
#Kangra
#Tourism

Next Post

Local weather change ravages Iraq as palm timber make manner for desert | Local weather Disaster Information

Sat Apr 22 , 2023
Basra, Iraq – Southern Iraq was as soon as often known as the “black land” – the huge swaths of palm timber blocking out the whole lot else, and offering meals, shelter, and shade. However the palm timber, in addition to fruit timber and vegetable farms, have now principally disappeared […]
Climate change ravages Iraq as palm trees make way for desert | Climate Crisis News

You May Like