Took loan for flat: Sancheti scion's uncle

MUMBAI: Rajesh Bora, maternal uncle of Sancheti family scion Paramveer Sancheti, on Tuesday admitted he did not have the resources to buy a flat in Adarsh and had taken a loan of Rs 60 lakhs from San Finance Corporation.
"Paramveer is my maternal nephew," said Bora, who lives in Chhattisgarh and works as an assistant manager with a leading private insurance firm."I had written a letter to the society requesting allotment of a flat which would be adjoining the flat of Paramveer, he said, adding that both had adjoining flats. Bora, who was allotted a 650 sq ft flat, claimed Adarsh accused R C Thakur was his neighbour in Nagpur and told him about flats being available in Adarsh.
Bora said he did not apply for a loan from any other bank. "I did not have my own resources to buy a flat in Adarsh," he said. Paramveer further said he had obtained the entire amount of Rs 60 lakhs from San Finance Corporation as a loan in 2003-2004, but neither were there any documents for the loan nor did he mortgage his flat to SFC. "The rate of interest has not been decided till date. I have not made any repayment of the loan amount," said Bora. He told the commission he was planning to give the Adarsh flat on rent and repay the loan. "I never intended to occupy the flat in Adarsh and I only intended to let it out," he said.
BJP Rajya Sabha MP Ajay Sancheti and his brother Abhay Sancheti run San Finance Corporation. Paramveer is Abhay's son.