BANK NEWS
Indian Bank put two immovable properties on sale to recover 288 crore
New Delhi: Government-owned financial services and banking company Indian Bank has put on sale two immovable properties of Saravana Stores (Gold Palace) at T Nagar in Chennai.
It is mentioned that the bank has issued a notice of sale to recover Rs 288 crore from the jewellery represented by its partners, guarantors, and titleholders. One of the properties is located on Usman Road which measures 4,800 sq ft and has a Rs 124 crore reserve price, on the other hand, the second property located on Ranganathan Street has a reserve price of Rs 46 crore.
Saravana Stores is a chain of retail stores in India and is the largest family-owned business retail chain in India.
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