subhash chandra: LIC Housing Finance takes possession of property whose guarantor was Essel Group’s Subhash Chandra

LIC Housing Finance has taken symbolic possession of a Churchgate property in Mumbai whose guarantor was Essel Group Chairman Subhash Chandra for non-payment of dues.

In a newspaper commercial revealed on Saturday, LIC Housing Finance stated it had issued a requirement discover calling upon the borrower Vasant Sagar Properties, PAN India Infraprojects with guarantor Subhash Chandra to repay the mixture quantity of Rs 570 crore.

LIC Housing Finance stated that the debtors and guarantors have didn’t repay the quantity and the corporate has taken symbolic possession of the property below the SARFESI Act on September 28.

The debtors and guarantors particularly and public typically are cautioned to not cope with the properties and any dealings with the properties shall be to the cost of LIC Housing Finance for an quantity of Rs 570 crore.

The property in query is a plot in Backbay Reclamation Property, Churchgate in Mumbai.