State-run lender Canara Bank has received e-bids for sale of Supreme Business Park — a 1.28 lakh sq meter (about 14 lakh sq ft) industrial home with a constructed-up region of more than 6.9 lakh sq feet in Powai, Mumbai. Canara Bank place the home up for auction beneath SARFAESI, looking for to recover Rs 385 crore just after the loan to the home developer Supreme Housing and Hospitality Pvt Ltd turned undesirable. The reserve cost for Supreme Business Park is kept at Rs 1,370 crore. The excess quantity recovered will be provided back to the borrower — Supreme Housing, an official told TheSpuzz Online. The bids will be opened on 30 March 2021.
Supreme Housing and Hospitality took a loan from Canara Bank in 2016, which later turned into NPA (non-performing asset). Under Sarfaesi Act, the bank can recover its dues by promoting the securities. Canara Bank has applied for the physical possession of the whole home. The final date for the bid application submission was March 25, 2021. However, if the auction does not go via for any explanation this time, then it would reopen for bids. The E-auction agency is C1 India, and the potential bidders could participate in the bidding approach from anyplace.
According to the e-auction notice observed by TheSpuzz Online, the industrial home has two towers A and B. The developing quantity 2 identified as ‘Supreme Business Park’ consists of two wings, A and B. These wings have 4 stilts and 7 upper IT floors. The size of the mortgaged asset is 1.28 lakh sq meters, and it is owned by Bhawani Shankar Sharma.
Earlier this week, Canara Bank had announced to organise an auction of 2,000 borrower properties on March 26, 2021. The properties include things like residential flats, apartments, independent homes, industrial lands, industrial complexes, workplace spaces and vacant lands. These will be sold beneath the provisions of the Sarfaesi Act, PTI quoted an official statement. According to the statement, so far in the present monetary year, Canara Bank has sold 1,450 properties valued at Rs 886 crore. The properties place up for auction are spread across Delhi, Mumbai, Kolkata, Bengaluru, Chennai, and also other semi-urban pockets.