Relief From House Attachment: Muslim League Pays MK Muneer's Rs 49 Lakh Debt
The Indian Union Muslim League has paid off its senior leader MK Muneer’s Rs 49 lakh debt, avoiding his ancestral residence’s bank attachment move.
On Tuesday, Muneer said his house, popularly known as Crescent House in Nadakkavu, was originally built by his father and former chief minister C H Mohammed Koya, came under the threat of bank attachment after he failed to repay the housing loan taken nearly a decade ago from the Kozhikode Town Service Co-operative Bank for renovation work.
The former minister and long-time legislator, Muneer’s loan, initially around Rs 70 lakh, was partially repaid over time. The delays in structured repayments, however, led to rising amount.
Though efforts were made to resolve the issue through a one-time settlement, which reduced the payable amount to about Rs 49 lakh, Muneer was unable to settle the dues within the stipulated period.
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The bank recently reinstated the full liability and issued a warning to recover the property if the amount is not cleared by March 31 as the deadlines crossed. After Muneer conducted a press conference explaining his financial state and bank notice, the League leadership decided to takeover the debt. Muneer said he did not opened up about his situation to anyone including the party
