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

A- A A+

Last Updated : Mar 7 2021 5:37PM Screen Reader Access

News Highlights

People saved more than Rs 9,000 cr through Jan Aushadhi Kendras, says PM Modi; Calls for using affordable medicines from Jan Aushadhi Kendras Campaigning gathers momentum for upcoming Assembly Elections; PM to address rally in Kolkata today; Film star Mithun Chakraborty joins BJP; WB CM Mamta Banerjee to address rally in Siliguri India administers over 2 crore COVID-19 vaccine doses in just 50 days; over 30 lakh senior citizens and 4 lakh people above 45 years with co-morbidities get vaccinated in six days Congress and DMK seal seat-sharing agreement in Tamil Nadu; Congress to contest in 25 seats Prez Kovind addresses tribal convention in MP's Damoh; Lauds the role of tribals in conservation of natural resources

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.