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Business News

Jul 30, 2020
11:55AM

Yes Bank takes possession of Anil Ambani's group HQ in Mumbai for default in repayment of dues

AIR
Private lender Yes Bank has taken possession of Reliance Centre, the headquarters of the Anil Dhirubhai Ambani Group (ADAG) situated at Santacruz in Mumbai for default in repayment of dues worth Rs 2,892 crore.

In an advertisement published in a newspaper yesterday, the bank had informed that it has also taken possession of two floors in Nagin Mahal in South Mumbai, which was its erstwhile headquarters.

Yes Bank said it had sought to recover dues of Rs 2,892.44 crore from Reliance Infrastructure on May 6 and took possession of the three properties on July 22 after a failure to repay even after 60 days of the notice.

It cautioned the general public not to deal with the properties, adding that any dealing with the properties will be subject to a charge of Yes Bank for an amount of Rs 2,892 crore.

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