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Yes Bank takes charge of Anil Dhirubhai Ambani Group’s Mumbai HQ

Wednesday, 29 Jul 2020
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Private sector lender Yes bank has taken possession of Reliance Centre, the headquarter building of Anil Dhirubhai Ambani Group (ADAG) in Mumbai, Maharashtra.

The bank has taken possession of the over 21,000 sq ft headquarter building at Santacruz in Mumbai and also two floors in Nagin Mahal in South Mumbai, which was its erstwhile headquarters.

The possession of the building took place on 22 July 2020 under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFESI).

The move to take over the buildings of ADAG comes after the Group failed to repay dues worth Rs 2,892 crore that it owes to the bank.

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