ગુજરાતી
English
Ahmedabad, 15 May 2021
Private sector lender Yes Bank will auction the fixed assets of the e-commerce company Magnum Solutions Ltd on tomorrow, May 15, to recover its debt of Rs 345 crore. This auction will be done online. In its E-Auction notice Yes Bank said that it had taken possession of the physical properties of Magnum Solutions Limited on August 29, 2020.
Yes Bank reported that the e-auction of the immovable assets of Magnum Solutions Limited will be under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act (Sarfaesi Act). The real estate auction of Magnum Solutions Limited, which will be auctioned, is located on Chapati, Mumbai.
Yes Bank has kept the reserve price of the assets of Magnum Solutions Ltd. at Rs 270 crore. That is, the buyer will have to buy this property for a minimum of Rs 270 crores. That is, its bid will start from Rs 270 crore. This property will not sell below this reserve price, which has been decided by the Authorized Officer.
Yes Bank shares closed down 0.75% to close at Rs 13.20 in the stock market. Shares of the company opened sharply today at Rs 13.40. The bank’s stock has been declining since April 28, due to which the market cap of the company has come down to Rs 33 thousand crore.
