Canara Bank takes over South Central Shopping Mall in Payakaraopeta
Business
Canara Bank just took over the properties of South Central Shopping Mall in Payakaraopeta after its loan accounts were classified as non-performing assets (NPAs) owing to non-repayment of loans.
The District Collector of Anakapalli stepped in and told revenue officials to hand everything over to the bank.
Authorities complete seizure, bank schedules e-auction
Revenue authorities, along with local authorities and police, carried out the seizure smoothly.
Now, Canara Bank is putting these properties up for e-auction this Friday, inviting interested buyers to help recover the unpaid dues.
If you're curious about how banks handle loan defaults or want a shot at owning some commercial property, this might catch your eye.