News > Indian Bank takes over Saravana Stores for non-payment of dues

Indian Bank takes over Saravana Stores for non-payment of dues

Indian Bank on Wednesday, took over physical possession of two properties of Saravana Stores (Gold Palace) in T. Nagar, as per a court direction.

The bank took over the possession of the store for non-payment of dues, under provisions of "The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI)" Act.