YES Bank to auction Avantha, RHC Holdings' assets to recover Rs 1,000 cr

The loan amount is due since October 31, 2019, along with further interest and cost due to the secured creditor from the borrower and mortgager

YES Bank will auction properties of Thapar Group's Avantha Holdings and Oscar Investments Ltd of Singh brothers alongside those of some individuals later this month to recover loan dues of over Rs 1,000 crore.

The sale of immovable assets will take place through e-auction on various dates in July under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.

In a sale notice to the public in general and in particular to Avantha Holdings Ltd (the borrower) and Avantha Realty (mortgager), YES Bank said it took constructive possession of the property mortgaged to it on