Yes Bank has invited bids for sale of immovable assets of a borrower, E Commerce Magnum Solution, to recover dues of over Rs 345 crore. The e-auction will take place under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Sarfaesi) Act.
The auction is with regard to One Hughes project at Chowpatty, Mumbai of E Commerce Magnum Solution. The bank has set the reserve price for the auction at Rs 270 crore.
Yes Bank is engaged in providing banking services, including corporate and institutional banking, financial markets, investment banking, corporate finance, branch banking, business and transaction banking, and wealth management.