Two properties of Scindia Steam sold by GoI, the Mortgagee Company

Scindia Steam Navigation Company Ltd has announced that out of three properties put up for sale by tender cum auction by ICICI Bank Ltd. Designated Person to the Central Government under SDFC (Abolition) Act, 1986, two properties have been sold as under:

1. Scindia Colony property to Export Credit Guarantee Corporation of India Ltd., a PSU for Rs 62.50 crores.

2. Walchand Bhavan at Panchgani Dist. Satara to M/s Daisy Holdings P Ltd., Mumbai for Rs 1.13 crores.

The sale consideration received has been remitted to the Government of India (GoI) towards the Company's outstanding dues to GoI. The preparation and execution of documents is pending.

The third property i.e. one flat at Lakshmi Mahal Co-operative Housing Society, Bomanjee Petit Road, Mumbai, has remained unsold.

Source : Equity Bulls

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