LIC Housing Finance takes possession of Orbit Corp property
This, after it defaulted on its loan
 "LIC Housing Finance takes possession of Orbit Corp property")
LIC Housing Finance has taken possession of Orbit Corporation's 25,670-square feet property in Lower Parel area of Mumbai after it defaulted on its loan.
Orbit Corporation had taken a loan of Rs 95 crore. Company's MD Pujit Agarwal and chairman Ravikiran Agarwal were guarantors for the loan.