May 04, 2013, 12.01 PM | Source: CNBC-TV18
CNBC-TV18's Sunanda Jayaseelan reports that primary lender State Bank of India has called for an auction of property pledged by Deccan 360 to recover dues.
SBI, in an advertisement in the papers on Friday, has called for sale of seven properties amounting to a super built-up area of almost 9,000 sqft in the heart of Bangalore. The properties were pledged towards raising loans worth nearly Rs 211 crore in May 2011.
The loans were taken for operational purposes and the company began defaulting on those loans starting September 2011. The advertisement invited interested parties to take participate in the bid that will close on May 31.
Sources at SBI indicate that Gopinath has agreed to participate in the auction. CNBC-TV18 was unable to contact Gopinath for his comments.
Avoid metals, PSBs safe bet as 2-3 year investment: UTI MF
In an interview with CNBC-TV18, Swati Kulkarni, Ex
Get in SBI at around Rs 150-155; may test Rs 250: Vijay Chopra
According to Vijay Chopra of enochventures.com, on
Govt to infuse about Rs 5,000 cr in PSU banks this quarter
"As committed, banks will get fund infusion in the
SBI’s gross NPAs to rise by Rs 35K cr in H2FY16: Morgan Stanley
Brokerage firm Morgan Stanley thinks of this short
SBI new home loan offers 3-5 yrs interest moratorium to NewGen
With the "FlexiPay Home Loan", the bank seeks to b
SBI launches new home loan scheme for working executives
Under the scheme, 'SBI FlexiPay Home Loan', the ad
Deccan Bearings standalone Dec '15 sales at Rs 0.26 crore
Deccan Bearings has reported a standalone total in
Deccan Bearings appoints Ritesh Parab as compliance officer
Deccan Bearings Ltd has informed BSE that the Boar