States » NorthPosted at: Nov 16 2025 9:10AM


Guarantor arrested in Rs 3.49 cr Baghat Cooperative Bank loan default case

Solan/Shimla, Nov 16 (UNI) In a major step to recover long-pending dues linked to Baghat Cooperative Bank’s non-performing assets, Solan Police have arrested a guarantor from Theog, Shimla, for repeatedly failing to appear before the court in a Rs 3.49 crore loan default case involving a private firm.
Superintendent of Police Gaurav Singh said the Assistant Registrar, Cooperative Societies, Solan, had issued an arrest warrant on October 25 against Rajesh Kumar, a resident of Satog village in Theog.
Kumar had stood as guarantor for a private firm that availed a substantial loan from Baghat Bank but failed to repay the amount within the stipulated period. The firm was subsequently declared a defaulter, with outstanding dues mounting to Rs 3,49,26,957, including interest. A recovery case is currently pending before the Cooperative Court in Solan.
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