Yes Bank to sell property of E Commerce Magnum Solution for recovery of Rs 345 crore

In an e-auction sale notice, Yes Bank said it took physical possession of the immovable properties mortgaged to it on August 29, 2020 pursuant to a demand notice issued to the borrower and mortgagor in January 2020. The e-auction will take place under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Sarfaesi) Act.

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