Unnao (Uttar Pradesh), March 19 The HCBL Cooperative Bank Ltd has declared BJP MLA Pankaj Gupta as "defaulter" over alleged non-payment of Rs 75 lakh.
Gupta was said to have raised a loan of Rs 2.25 crore from the bank in 2013 in the name of his company Fantasy Motels Private Limited.
A bank official said that the cheques issued to the bank by the legislator against loan amount had since bounced.
The revenue officials concerned had issued notice for arrest and seizure of property against Gupta in 2016.
The MLA, however, claimed that he had deposited the loan amount of Rs 1.40 crore, for which the bank had issued him a recovery notice, at the tehsil.
Bank officials maintained that the legislator had failed to repay Rs 75 lakh out of the outstanding dues.
( With inputs from IANS )