 "Bank of Maharashtra")
Bank of Maharashtra (Mahabank) will sell the consumer electronics manufacturing plant of Videocon Industries in Tamil Nadu in an auction to recover its outstanding debt worth Rs 153.77 crore.
The bank has issued a notice to the company and the public about the immovable property, which has been mortgaged to the bank. The electronic auction is slated for March 30 with a reserve price of Rs 42.34 crore for land and Rs 72.82 crore for plant and machinery.
The sale will help the firm recover the amount due to the bank from the borrowers and guaranteers, including Unity Appliances (the
