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Someone obstructing Seven Hills from getting loan: HC

The Bombay High Court on Wednesday observed that somebody was was coming in the way of Seven Hills Healthcare Private Ltd from securing a loan to continue to run its plush hospital in Marol.

Written by Express News Service | Mumbai | Published: June 14, 2012 2:00:41 am

The Bombay High Court on Wednesday observed that somebody was was coming in the way of Seven Hills Healthcare Private Ltd (SHHPL) from securing a loan to continue to run its plush hospital in Marol.

SHHPL’s counsel Venkatesh Dhond told the court that the revised No-objection certificate (NOC) issued by the BMC was “as bad as the first one”. He said the corporation had put several conditions.

Earlier,the court had reprimanded the BMC for its NOC for SHHPL to mortgage land to secure a bank loan,that “created obstacles” for the hospital instead of facilitating the procurement of a loan.

Dhond told the court that the first NOC ran into 100 pages. “With this who is going to give me (SHHPL) a loan?” Dhond said. He said SHHPL had secured the funds from Allahabad Bank but they wished to switch to another financial institution to get a better rate.

After taking a look at the revised NOC,Justice Bobde said,“It seems that somebody does not want it to happen.”

Dhond told the court that taking into account the political considerations,and to provide good medical treatment to patients referred to the Seven Hills Hospital from BMC-run hospitals,the SHHPL was willing to construct a separate 300-bed hospital for these patients.

The BMC’s counsel Ashutosh Kumbhakoni had earlier said the suggestion would be considered by the BMC. However,the corporation is yet to respond.

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