Debt burdened and newly rescued private lender, Yes Bank has taken the possession of Anil Ambani’ Anil Dhirubhai Amabani Group (ADAG) headquarter Reliance Centre in Mumbai.
The bank had issued possession notices for the 21,000 sq ft building located in Santacruz and two floors in Nagin Mahal in South Mumbai.
The possession of the building and two floors have been taken place on July 22, under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI)
ADAG Group has a total exposure of Rs 12,800 crore to Yes Bank and it has failed to pay its dues to the private lender.
