Flats Seized On Court Order, Real Estate News, ET RealEstate

December 26, 2023
1 min read
1703566822 mumbai sai estate consultants properties seized over loan default

MUMBAI: The court commissioner recently took possession of a few properties and flats belonging to Sai Estate consultant and four Wadhwani brothers for a loan default of Rs 62.5 crore that they had taken from the Mumbai District Central Cooperative Bank.

The action was taken under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act , 2002.

The Additional Chief Metropolitan Magistrate Jaywant Yadav, who had appointed advocate Sunil Pandey as court commissioner, directed him to take over possession of the properties and land in Sindhi Society in Chembur. Pandey and the court staff with the help of local police took possession of the secured assets.

The court action came on the plea of the Mumbai District Central Cooperative Bank that had provided various loans-credit facilities to the said borrowers.

  • Published On Dec 26, 2023 at 08:23 AM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETRealty App

  • Get Realtime updates
  • Save your favourite articles

Scan to download App
realty barcode

Source link


Curation Team will curate content from different sources and present for you. We will not edit any content. Source link is provided for the source from where its received .

Leave a Reply

Your email address will not be published.

delhi residents miffed at mandatory geo tagging of properties
Previous Story

Residents Express Discontent, ET RealEstate

nbcc sells 5000 flats of amrapali for rs 2900 crore
Next Story

NBCC sells 5,000 flats of Amrapali for Rs 2,900 crore, ET RealEstate

Latest from Blog