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Yes Bank to auction properties of Essel Infra, SKIL Infra in July to recover dues

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Yes Bank to auction properties of Essel Infra, SKIL Infra in July to recover dues 1

NEW DELHI:
Yes
Bank will next month
auction
properties
of
Essel group firm
Essel Infraprojects and
SKIL
Infra
to
recover
dues
of Rs 1,368.16 crore.

The private
bank on
July 8 will
auction
properties owned by
Essel Infraprojects
in Mumbai. It has also put under the hammer
properties owned by another group firm Rama Associates. It selling
properties
to
recover
dues
of Rs 556.53 crore, according
to a public notice by
Yes
Bank.

The
bank took symbolic possession
of their
properties on January 8 and 10, 2020, the notice said.

The sale
of immovable assets is under the Securitization and Reconstruction
of Financial Assets and Enforcement
of Security Interest (Sarfaesi) Act, 2002.

“The e-
auction will take place on
July 8, 2020, for recovery
of Rs 556,52,30,349.63 as on November 6, 2019, together with further interest, costs, charges and expenses thereon with effect from November 7, 2019, due
to the secured creditor from
Essel Infraprojects Ltd (borrower or mortgagor 1) and Rama Associates Ltd (mortgagor 2),” according
to the
auction notice.

The
properties includes eight commercial units
of carpet area 19159.94 sq ft along with 44 car parking space at Kohinoor City Mall, Kirol Road, Kurla, Mumbai owned by
Essel Infraprojects.

A property located at Lawrence Road, New Delhi owned by Rama Associates Limited has also been put under the hammer.

In a separate notice,
Yes
bank said onÂ
July 8 it will sell land parcels owned by
SKIL Infrastructure Ltd
in Dighode village situated
in Raigad district
of Maharashtra for recovery
of Rs 390.92 crore.

Yes
Bank (secured creditor) said it has taken the physical possession
of “All those pieces and parcels
of non- agricultural lands or grounds, situated, lying and being at Village Dighode, Taluka Uran, District Raigad….” on September 27, 2019 pursuant
to the demand notice issued
to the borrower(s) and mortgagor under SARFAESI Act, 2002 dated May 24, 2019.”

The
properties will be sold by way
of e-
auction for recovery
of Rs 390.92 as on May 23, 2019 together with further interest, costs, charges and expenses thereon with effect from May 24, 2019 due
to the
bank from
SKIL Infrastructure Limited (borrower and mortgagor).

The third
auction with regard
to recovery
of Rs 420.71 crore from
SKIL Infrastructure is slated for
July 15 for sale
of “All those pieces and parcels
of non-agricultural lands or grounds, situated, lying and being at Village Chanje, Taluka Uran, District Raigad, owned by Karanja Infrastructure,” as per the document,
Yes
Bank document read.

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