Yes Bank takes possession of Anil Dhirubhai Ambani Group’s headquarters in Mumbai – ET RealEstate

MUMBAI: Private lender Yes Bank has taken possession of Reliance Centre, the headquarters of the Anil Dhirubhai Ambani Group (ADAG) in Mumbai. Possession notices were issued regarding the 21,000 sqft building and two floors in Nagin Mahal in South Mumbai, newspaper advertisements showed.

The possession of the building took place as on 22 July under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFESI).

In a public notice, Yes Bank said it has issued notice to Reliance Infrastructure under the SARFAESI Act to recover its dues and after the company failed to repay the debt, it has issued the possession notice and warned public from dealing with these properties.

The assets were possessed as the Anil Ambani-led conglomerate failed to pay its dues worth Rs 2,892 crore to the private bank. ADAG has an exposure of ₹12,800 crore to Yes Bank.

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