The Ind Bank Housing Ltd (IBHL), a subsidiary of Indian Bank, is in the process of auctioning 13 flats measuring 18,000 sq ft, seized from promoters who failed to repay project loan. | |
| According to a company statement, Srishti Estates and Investments Pvt Ltd availed a project loan from IBHL for construction of flats in Velachery, Chennai. |
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| The land owners "� Jagan Mohan Rao and M Jayaraman "� mortgaged the land for the above loan. But both Srishti Estates and the mortgagers failed to repay the loan and the present balance was over Rs 15 crore. |
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