NEW DELHI: Life Insurance Corporation of India (LIC) has taken "notional possession" of a slice of real estate major
Unitech's 350-acre land parcel in Noida after the company failed to
repay a part of its nearly Rs 150-crore loan from the country's largest
insurer.
In a 'Notional Possession Notice' issued, LIC cautioned the public against dealing with the land parcels in sectors 96, 97 and 98 in Noida, which is prime property along the expressway that connects the Delhi suburb with Greater Noida. Bankers said "notional possession" is a step short of taking physical control of an asset, although the property remains under the company's charge. The property can be handed back to the company once the accounts are settled
.http://www.myallagents.com/LIC-close-to-seizing-Unitechs-Noida-land/details.html
In a 'Notional Possession Notice' issued, LIC cautioned the public against dealing with the land parcels in sectors 96, 97 and 98 in Noida, which is prime property along the expressway that connects the Delhi suburb with Greater Noida. Bankers said "notional possession" is a step short of taking physical control of an asset, although the property remains under the company's charge. The property can be handed back to the company once the accounts are settled
.http://www.myallagents.com/LIC-close-to-seizing-Unitechs-Noida-land/details.html
No comments:
Post a Comment