YES Bank issues possession notice for RInfra headquarters, other assets

Move triggered by RInfra's failure to repay Rs 2,892 cr debt; Properties include firm's HQ in Mumbai's Santa Cruz East, two floors in Nagin Mahal, Churchgate

Private sector lender YES Bank has issued possession notice for several properties belonging to Reliance Infrastructure (RInfra), including its headquarters, after the company failed to repay its debt worth Rs 2,892 crore.

RInfra’s headquarters is located in Santacruz East, Mumbai, and the other properties include two floors in Nagin Mahal, near Chur­chgate. In a notice dated July 22, YES Bank said it had issued notice to RInfra under the Secu­ritisation and Recon­struction of Financial Assets and Enforcement of Securities Inte­rest (Sarfaesi) Act to recover dues, and warned the public against dealing in these properties. 

YES Bank has an exposure of Rs 12,000