Ballabgarh medical college to go under hammer soon

Bijendra Ahlawat

Tribune News Service

Faridabad, December 19

The Goldfield Institute of Medical Sciences and Research, a private medical institution, set up in 2009 near Chhainsa village of Ballabgarh subdivision is all set to be auctioned for the recovery of Rs 235-crore loan.

Preparations are underway to auction the land and building of the medical college, which stopped functioning in 2015 due to the withdrawal of recognition and financial crisis. The college management owes Rs 235 crore to half a dozen public sector banks. “As the building was sealed in March this year, the banks have now decided to recover the dues by auctioning the property, including land and other infrastructure,” said Sanjay Sharma of Technocraft Financial Services, a consultancy firm assisting the banks on the issue.

Claiming that the date of auction was still to be finalised, he said it could take place within the next few months. Hinting that the state or the Union Government was interested in taking over the college, he said an assessment and evaluation of the property had been taken up by the district authorities.

The Gold Field Shiksha Sansthan, a body that owned the institution, has failed to clear the debt taken from Union Bank, Punjab National Bank, Bank of Baroda, Bank of Maharashtra, Central Bank and Allahabad Bank for the past many years.

Around 400 students enrolled here had to be shifted to other colleges in the region after the institute was closed in March 2015. Spread over 27 acres, the college started functioning in 2011-12 and had 100 MBBS seats. It admitted 100 students each during 2011-12, 2012-13, 2013-14 and 2014-15.

In 2015-16, the MCI withdrew its permission for the violation of the guidelines. In September 2015, the state government removed the name of the institute from the list of private medical colleges offering MBBS degree.

Admitting that property evaluation of the college was on, Naresh Kumar, district revenue officer, said the report would be submitted to the authorities concerned within a week. “It is likely to pave way for the takeover of the institution,” said an official.