Yes Bank to sell Magnum property to recover ₹345 cr

Yes Bank has invited bids for sale of immovable assets of a borrower, e-comm Magnum Solution Ltd, to recover dues of over ₹345 crore. In an eauction sale notice, Yes Bank said it took physical possession of the immovable properties mortgaged to it on August 29, 2020 pursuant to a demand notice issued to the borrower and mortgagor in January 2020. The e-auction will take place under the Securitisation and Reconstruction of Financial Assets and Enforcement of

Security Interest (Sarfaesi) Act.