Yes Bank to auction Essel, SKIL Infra properties in July to recover dues

The sale of immovable assets is under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (Sarfaesi) Act, 2002

Yes Bank will next month auction properties of Essel group firm Essel Infraprojects and SKIL Infra to recover dues of Rs 1,368.16 crore.

The private bank on July 8 will auction properties owned by Essel Infraprojects in Mumbai. It has also put under the hammer properties owned by another group firm Rama Associates. It selling properties to recover dues of Rs 556.53 crore, according to public notice by Yes Bank.

The bank took symbolic possession of their properties on January 8 and 10, 2020, the notice said.

The sale of immovable assets is under the Securitization and Reconstruction of Financial