The bank has put three of their properties in Mumbai and one in Himachal on auction to recover some part of the loan
Remember the TVC Sky Shop that would pop up on your television screens selling products mostly from the western countries, with dubbed Hindi advertisements? They have defaulted on their loan payment and owe Rs 53.49 crore worth loan amount to Punjab National Bank. The bank has put three of their properties in Mumbai and one in Himachal on auction to recover some part of the loan.
The e-auction notice, a copy of which is available with DNA mentions, TVC Sky Shop Ltd as the borrower and three properties belonging to Jagdish Agarwal, Vinod Agarwal and Angooridevi Agarwal, has been put on the block, which will be auctioned on February 9. The properties are located in Khandwala Shopping Centre, Malad (east). There is one more property located in Himachal Pradesh's Solan district that the bank has put on sale.
The first two properties measure 702 and 1,047 sq ft and is being sold for Rs 1.61 crore (reserve price). The third property measuring 1,045 sq ft is being auctioned at a reserve price of Rs 90 lakh, while the fourth property located in Himachal is being sold at Rs 9.10 crore,
The last date for receiving the Earnest Money Deposit along with KYC details is February 2, 3pm and the e-auction for all the four properties shall be held on February 9, from 11am to 4pm.
When contacted, Subhash Jha, Chief Manager, Punjab National Bank, Secured Reditor, confirmed that the properties belong to the same TVC Sky Shop that put advertisements. "This is the first time that we put the property on auction and are taking all steps to get the amount back, as per the guidelines of the bank," said Jha.
Repeated attempts to contact the Agarwals got us no result, even their customer care number, posted on the website now belongs to someone else in Mumbai. All the other numbers were unreachable or switched off.
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