Top Pune private hospital faces closure over Rs 71-crore LIC loan default

With LIC Housing Finance publishing notices demanding immediate vacation of the property and the Debt Recovery Tribunal ruling in favour of the lender, Niramaya Hospital management has turned to the Bombay High Court for relief.

intravenous immunoglobulin, Gullain Barre Syndrome, pune Gullain Barre Syndrome, Gullain Barre Syndrome cases, Pune news, Pune, Maharashtra news, Indian express newsNiramaya Hospital in Pimpri-Chinchwad is facing possible closure after LIC Housing Finance sought possession of its mortgaged property over a disputed loan repayment (File photo for representative use).

Niramaya Hospital, one of the most sought-after private healthcare facilities in Pimpri-Chinchwad, Pune, is facing closure after allegedly defaulting on a mortgage loan repayment. LIC Housing Finance Ltd, which extended a Rs 71-crore loan to the hospital, has published public notices calling on the management to stop admitting new patients immediately.

In newspaper notices published last week, LIC HFL appealed to the management of Niramaya Hospital to comply with court directions, transfer existing patients elsewhere, and hand over vacant possession of the mortgaged property.

The lender clarified that it does not operate the facility and disclaimed all liability for any consequences or losses arising from patient treatment, transfers, or non-compliance with court orders, stating that full responsibility rests solely with the hospital’s management.

The enforcement push follows a June ruling by the Debt Recovery Tribunal (DRT) in favour of LIC HFL, which directed the hospital to transfer patients and vacate the premises. Following an August 29 notice by LIC HFL declaring its intent to take physical possession, the hospital management moved the Bombay High Court for a stay. Hospital sources noted that the High Court has temporarily permitted them to admit emergency patients pending further hearing.

Management disputes claimed dues

Dr Kisan Munde, director of Niramaya Hospital, said that the Rs 71-crore mortgage loan was secured in 2015 to construct a new hospital building, and EMIs exceeding Rs 1 crore per month were paid regularly without default until late 2022.

“Till December 2022 and the beginning of 2023, we had paid Rs 65 crore,” Dr Munde said. “After that, we could not pay the amount. LIC HFL is now saying that we owe them Rs 137 crore. We don’t agree with its contention and have therefore approached the high court seeking justice.”

Construction on the new hospital building, located adjacent to the current facility, stands 60 per cent complete but has halted due to a lack of funds.

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Located on the Pune-Mumbai highway, the hospital employs over 400 staff members. Along with Dr D Y Patil Hospital and Lokmanya Hospital, Niramaya is widely regarded as a major affordable healthcare institution in the region.

Currently, 30 patients remain admitted at the facility, all in the intensive care unit (ICU). “We are admitting only serious patients,” Dr Munde said.

Local activist Avinash Chilekar expressed concern over the institution’s potential shutdown. “The hospital has had top-quality doctors and is known for reducing the bills of needy patients,” Chilekar said. “LIC is a government organisation. It can allow the hospital time to pay the EMI. If the hospital is closed, the poor and needy patients will suffer, as Pimpri-Chinchwad lacks hospitals like Niramaya.”

Manoj Dattatrye More is a Senior Editor at The Indian Express, having been with the publication since 1992. Based in Pune, he is a veteran journalist with a 33-year career that spans editorial desk work, investigative reporting, and political analysis. Professional Legacy Experience: He spent his first 16 years on the editorial desk before moving into active field reporting. He has written over 20,000 stories, including more than 10,000 bylined articles. Impact Journalism: He is widely respected for "campaign-style" reporting that leads to tangible social change. Road Safety: His decade-long campaign regarding the dangerous state of the Pune-Mumbai highway in Khadki resulted in a ₹23 crore reconstruction project in 2006, which dramatically reduced fatalities. Environmental Protection: His reports against tree cutting on the Pune-Mumbai and Pune-Nashik highways saved approximately 2,000 trees. Anti-Corruption: During the COVID-19 pandemic, he exposed a scam where doctors were being asked to pay bribes for government jobs, resulting in them being hired without payment. Recent Notable Articles (Late 2025) Manoj More's recent work focuses heavily on the shifting political landscape of Maharashtra and civic governance in the Pimpri-Chinchwad area: 1. Political Shifts & Alliances "Ajit Pawar's NCP continues domination in Pune, wins 10 of 17 local bodies" (Dec 21, 2025): A major report on the local self-government election results, detailing the NCP’s stronghold in Baramati, Indapur, and Lonavala. "BJP ropes in 13 ex-corporators, deals major blow to NCP" (Dec 20, 2025): Reporting on a significant political defection in Pimpri-Chinchwad as the BJP gears up for civic polls. "Congress opts for solo BMC run as alliance talks with Sena (UBT) collapse" (Dec 17, 2025): Covering the breakdown of Maha Vikas Aghadi (MVA) talks for the Mumbai civic elections. "NCP(SP)'s Rahul Kalate, Sena (UBT) leader Sanjog Waghere set to join BJP" (Dec 19, 2025): Detailing high-profile party-hopping ahead of the municipal elections. 2. Civic & Administrative Accountability "PCMC draws ire for issuing tenders worth Rs 250 crore just before poll code" (Dec 17, 2025): An investigative piece on the Pimpri-Chinchwad Municipal Corporation’s last-minute spending spree before election restrictions. "93 killed in 76 accidents in five years: Bypass service roads in Pune remain undeveloped for 18 yrs" (Nov 16, 2025): A critical look at the long-delayed infrastructure projects contributing to fatalities on Pune’s bypass roads. 3. Social & Labor Issues "As state says TCS has laid off 376 employees: FITE flags figures, say nearly 2,500 were forced to quit" (Dec 11, 2025): Investigating conflicting reports regarding IT sector layoffs in Maharashtra. "Maharashtra govt move to 'downgrade' Aadhaar cards" (Nov 30, 2025): Reporting on the state’s decision to require additional documents alongside Aadhaar to combat identity misuse. Signature Beat Manoj More is the definitive voice on Pimpri-Chinchwad, an industrial hub he has covered for three decades. His reporting is characterized by its aggressive stance against local "gondaism" (thuggery) and a relentless focus on civic infrastructure—choked drains, garbage management, and public transport. X (Twitter): @manojmore91982 ... Read More


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