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Orbit Corporation fails to pay LIC Housing Finance’s loan

31 Dec 2014 Evaluate

LIC Housing Finance has taken possession of Orbit Corporation’s 25,670-square feet property in Lower Parel area of Mumbai as it failed to repay loan Rs 95 crore. The company’s MD Pujit Agarwal and chairman Ravikiran Agarwal were guarantors for the loan.

Orbit Corporation is a leading Mumbai real estate developer focused on luxury real estate development in South Mumbai.

 

Peers
Company Name CMP
Lodha Developers 1162.00
Prestige EstatesProj 1473.00
Dilip Buildcon 412.40
DLF 680.50
Oberoi Realty 1850.05
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