Syndicate Bank To Auction GVK’s Land Bank To Recover Dues

By | March 13, 2017

Public sector lender Syndicate Bank has put up land bank owned by GVK Group in GVK Perambalur SEZ Pvt Ltd in Tamil Nadu for sale as part of recovery of its outstanding loan of Rs 175 crore.

According to a public notice issued by the bank on Thursday, the Reserve Price of the property that is spread across the 2,500 acres SEZ, is over Rs 257 crore.

As there were no bidders for the first auction, notice for which was issued in January, a fresh notice for e-auction has been issued and it will be held on March 27, a senior bank official, who oversees the auction process, told PTI.

Source: ndtv profit