Two years on, no buyer for Faridabad medical college

Bijendra Ahlawat

Tribune News Service

Faridabad, January 21

The Rs 235-crore loan defaulter Goldfield Institute of Medical Sciences and Research, a private medical institute which got closed down in 2015, is yet to get a buyer. The process to sell it was started two years ago.

While an e-auction was scheduled for September 25, 2019, it is reported that no buyer approached by the given deadline. It was set up in 2009 near Chhainsa village of Ballabgarh subdivision. While the first auction was slated to be held in October 2018, it had to be dropped as no bid was received by the auctioneering agency, perhaps due to high reserve price. This amount was later scaled down to Rs 174 crore, which included the cost of moveable assets of Rs 7.56 crore.

“As the building was sealed in March 2018, banks from which loan had been taken launched the move to recover outstanding dues through auction of the property which included land, building and other infrastructure,” said Sanjay Sharma of Technocraft Financial Services, a consultant company engaged by the banks consortium for the auction.

“The auction process is still on and fresh tender bid is likely to be released next month,” he added. While a property evaluation was also done by the state government, it is yet to make a move for the takeover.

The Goldfield Institute of Medical Sciences and Research, spread over 27 acres near Chhainsa village of Ballabgarh subdivision, was started in 2011-12 with an intake of 100 MBBS seats.

Lost MCI tag for violations

• The Goldfield Institute of Medical Sciences and Research, spread over 27 acres near Chhainsa village of Ballabgarh, was started in 2011-12 with an intake of 100 MBBS seats. It admitted 100 students each in 2011-12, 2012-13, 2013-14 and 2014-15 academic sessions, but stopped functioning in 2015 due to withdrawal of recognition and financial crisis.
• The MCI withdrew recognition for the 2015-16 session for violation of guidelines. Around 400 students were shifted to other colleges in March 2015 and in September, its name was deleted from a list of private medical colleges in the state.