A private financial firm took physical possession of City Hospital, a prominent healthcare institution located along M.G. Road in the heart of the city with a legacy spanning decades, under the SARFAESI Act (Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest), on Wednesday reportedly following default in repaying loan taken by its Mumbai-based parent company, leading to mounting debts of around ₹35 crore.
Of the seven patients admitted to the hospital, all except one, who had undergone surgery for a hernia, were either discharged or transferred to other hospitals. One nurse was permitted to attend to the patient, who is expected to be discharged on Friday. Likewise, all departments, except the one administering IVF (In Vitro Fertilization) treatment, were shut down to ensure continuity of care for a patient scheduled to undergo the procedure on Sunday.
Reportedly, the hospital was served notice of the impending takeover of the possession on Tuesday, along with instructions not to admit new patients or schedule surgeries. Tata Capital officials initiated the process of taking over possession around 11 a.m., armed with a court order and in the presence of officials of Health and Police departments. The procedure continued until around 5:30 p.m. Security personnel have been deployed to redirect any patients approaching the hospital to nearby facilities.
