News By/Courtesy: AKSHITA PHUTELA | 06 Jul 2020 15:33pm IST

Yes Bank to auction Avantha, RHC Holdings' asset to recover Rs 1000 crore.
Yes bank auction properties of Thapar groups Avantha holdings and Oscar investment limited of Singh brothers alongside those of some individuals later this month to recover loan dues of over rupees 1000 crore.

The sale of immovable assets will take place through e-auction on various dates in July under the Securitization and Reconstruction of financial assets and Enforcement of Security Interest Act, 2002.
"All that office premises bearing municipal number B14 to be 19 on the 3rd floor B wing of Shangrila Apartment, bund garden road, Pune-411001 admeasuring approx. About 12 3.56 square meters built-up area, bearing survey number 362, Hissa number 3/A and Hissa number 4 (pt), situated at 31 Bund Garden Road, Pune under the name Shangrila" the auction notice said describing the mortgaged assets.
The loan amount is due since October 31, 2019, along with further interest and cost due to the secured creditors from the borrower and mortgagee, Yes Bank said.
Those interested can inspect the properties from July 10 to 23 the last date of submitting the earnest money deposit is July 24, while the auction will take place on July 27, It said.
The outstanding amount has been calculated after adjusting Monies recovered from the sale of other securities, Yes Bank said.
The properties mortgaged to Yes Bank are "Land and building built on land admeasuring 12 Bighas out of Khasra number 288 (4 Bighas 16 Biswas), Khasra number 289 (4 Bighas 5 Biswas) and Khasra number 290 (2 Bighas 19 Biswas) situated in the revenue estate of village Gadaipura Tehsil Hauz Khas, Mehrauli, New Delhi.
The property will be open for inspection from July 6 to 17 while the last date to submit a bid along with EMD is July 18. The auction will take place on 20th July 2020.
While the auction of Essel group properties will take place on July 8, Skil Infra properties will go under the hammer on July 15.

Apart from this, the bank will also sell individual properties owned by certain borrowers from Ludhiana and Jaipur to recover dues of rupees 30.96 lakh and rupees 24.29 lakh, respectively on July 20.

“THIS ARTICLE DOES NOT INTEND TO HURT THE SENTIMENTS OF ANY INDIVIDUAL, COMMUNITY, SECT, OR RELIGION ETCETERA. THIS ARTICLE IS BASED PURELY ON THE AUTHOR'S PERSONAL VIEWS AND OPINIONS IN THE EXERCISE OF THE FUNDAMENTAL RIGHT GUARANTEED UNDER ARTICLE 19(1)(A) AND OTHER RELATED LAWS BEING FORCE IN INDIA, FOR THE TIME BEING.”

Section Editor: Pushpit Singh | 06 Jul 2020 16:08pm IST


Tags : #yesbank #auction

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