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HDIL fails to repay loan, CBI seizes its Kurla property

The bank issued a public notice on June 1, asking HDIL to pay the loan amount

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Real estate firm HDIL owes Rs 144 crore loan amount to Central Bank of India. It failed to repay, and the bank has taken symbolic possession of its property in Kurla West. While the bank says it is carrying out the procedures required under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, HDIL has called it a technical default. The bank issued a public notice on June 1, asking HDIL to pay the loan amount.

At one point of time, HDIL ruled the real estate industry. The exact amount the bank claims from the real estate firm is Rs 1,44,25,44,651.

The notice (a copy available with DNA) reads, "The borrowers/guarantors, have failed to repay the amount, notice is hereby given to the borrowers and public in general that the undersigned has taken symbolic possessions of the assets on June 1, 2017."

The notice further reads, "The borrower or guarantors, and public, in general, is hereby cautioned not to deal with the property and any dealing with the properties will be subject to the charge of Central Bank of India."

The property that the bank has taken symbolic possession of is a 10-acre portion of 'all pieces and parcels of land and premises admeasuring 2.13 lakh square metres', situated at Premier Road, of LBS Marg, Kurla West.

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