Yes Bank takes possession of Anil Ambani's group HQ in Mumbai

Yes Bank has taken over the headquarter of Anil Ambani's group in surburban Santacruz for failure to repay dues worth Rs 2,892 crore.

The private sector lender has also taken possession of two flats in South Mumbai for the non-payment of dues by Reliance Infrastructure, according to a notice published by Yes Bank in a newspaper on Wednesday.

Nearly all the major companies in Anil Dhirubhai Ambani Group (ADAG) were operating out of the Santacruz office called 'Reliance Centre'. However, in the last few years, the fortunes of the group have gone south with the companies meeting various fates, including bankruptcies and stake sales.

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.

 

Asianet.in/NewsDesk: Asianet Online