IDBI Bank to auction Loop mobile's Mahim property

On January 19, IDBI bank put Loop Mobile Ltd's, formerly known as BPL Mobile Communications Ltd, Mahim property on auction for a reserve price of Rs 134 crore. The property, a ground-plus-seven floors structure, named BPL Centre will be auctioned on February 8. It includes a mini theatre and measures a total built-up area of 6,488 sqm.

The tender documents for participating in the e-auction are available up to February 5 from 11 am to 5 pm. The last date for submission of Earnest Money Deposit of Rs 13.4 crore and participating in the bid is February 5. The e-auction will be held on February 8 from 11 am to 1 pm.

The principal amount of the loan was Rs 138.17 crore while the interest levied till January 1, 2018 is Rs 79.20 crore, bringing the total due to Rs 217.37 crore. When contacted, Dal Chand, the officer of IDBI bank, confirmed the amount and the auction details but refused to divulge any further details. According to the official, the property was earlier put up for auction in November-December 2017 for nearly Rs 167 crore but it didn't find any takers.

All statutory liabilities, taxes, maintenance fee, electricity, water charges outstanding to date and yet to fall due would be ascertained by the bidders and would be borne by the successful bidder. The bank doesn't take any responsibility for the same.