MoneyWorks4Me

Bank of India takes symbolic possession of Decolight Ceramics’ assets

10 Jul 2014 Evaluate

Decolight Ceramics’ lender bank - Bank of India, Morbi Branch has taken symbolic possession of the assets of the company. The bank has taken this step due to default in the payment by the company. Further, PGVCL (GEB) and GSPC have cut the supplies to the company and have taken other consequential actions due to non-payment of dues.

Decolight Ceramics is the most esteemed Vitrified Tiles manufacturing plant in the market producing Vitrified Tiles under the brand name 'Granolite'.

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