LOOKOUT NOTICE AGAINST RANE’S KIN OVER FAILURE TO REPAY LOAN

The Pune Police have issued a lookout circular (LOC) against Union minister Narayan Rane’s son, BJP MLA Nitesh Rane and wife Nilam Rane in a case involving failure to repay loan amount worth ₹61 crore.

The circular was issued on September 3 by Crime Branch Unit citing that “Co-borrower may leave the country anytime with malafide intention”.

The Artline Properties Pvt Ltd (main borrower), a firm owned by Nilam Rane, availed a loan of ₹25 crore from DHFL (Dewan Housing Finance Corporation Ltd) in which she was the co-borrower and the outstanding on the account was over ₹27.13 crore. Likewise, Nilam Hotels, owned by Nitesh Rane, too, availed a loan from the private financial institute whose outstanding was over ₹34 crore, the Deputy Commissioner of Police (Crime Branch) Shrinivas Ghadge said.

“There is an apprehension and fear that the said co-borrower may leave the country anytime with malafide intension to evade the repayment of the loan granted by DHFL and escape the legal actions that may be taken against him (Civil/criminal) by DHFL,” stated the LOC.

“The agency which had lent money to Rane wrote to Centre. They wrote a letter to state government and accordingly it has reached Maharashtra DG office. The DG has the right to take appropriate action and hence it came to Pune police,” said state home minister Dilip Walse Patil.

Nitesh Rane, however, said: “We are in the process of trying to settle the loan... This is being done under pressure from state government.”