Indian Bank takes over Saravana Stores (Gold Palace) in T. Nagar for non-payment of dues
The Hindu
In May 2021, Indian Bank had declared Saravana Stores Gold Place a fraud account; sources said their dues now amount to ₹480 cr with interest
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.
The restoration and redevelopment of the decades-old Calve College Government school, a landmark that occupies a prominent place in the city’s history is nearing completion. The Puducherry Smart City Development Limited (PSCDL), which has taken up the restoration, has planned to complete the work by the first week of July. The Indian National Trust for Art and Cultural Heritage (INTACH) is the architectural consultant for PSCDL, while Puducherry Technological University (PTU) is the structural consultant. The work commenced in August 2021 and costs ₹4.75 crore.