Bank of Maharashtra (BSE:532525) has decided to sell the consumer electronic manufacturing plant of Videocon Industries Limited (BSE:511389) in Tamil Nadu, through an auction to recover its debt of INR 1,537.7 million. Bank of Maharashtra has served a notice to the company and public about the property that is mortgaged to the bank. The auction is scheduled for March 30, 2019 with a reserve price of INR 423.4 million for land and INR 728.2 million for plant and machinery.
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- Bank Of Maharashtra To Sell Videocon's Tamil Nadu Unit