All Rights Reserved Finance News 2020.
Yes Bank takes possession of Anil Dhirubhai Ambani Group’s headquarters in Mumbai
MUMBAI: Personal lender Yes Bank has taken possession of Reliance Centre, the headquarters of the Anil Dhirubhai Ambani Group (ADAG) in Mumbai. Possession notices have been issued concerning the 21,000 sqft constructing and two flooring in Nagin Mahal in South Mumbai, newspaper commercials confirmed.
The possession of the constructing came about as on 22 July beneath the Securitisation and Reconstruction of Monetary Property and Enforcement of Safety Curiosity Act (SARFESI).
In a public discover, Yes Bank mentioned it has issued discover to Reliance Infrastructure beneath the SARFAESI Act to recuperate its dues and after the corporate did not repay the debt, it has issued the possession discover and warned public from coping with these properties.
The belongings have been possessed because the Anil Ambani-led conglomerate did not pay its dues price Rs 2,892 crore to the non-public financial institution. ADAG has an publicity of ₹12,800 crore to Yes Bank.