Acquires Santacruz (West) Mumbai Property for ₹15,50,00,000 via SARFAESI E-Auction
The company was declared successful bidder in an e-auction held by Religare Finvest Limited under the SARFAESI Act, 2002.
- Property Location
- Plot Nos. 9, Swami Vivekanand Road, 8 Tank Road, Santacruz (West), Mumbai
- Total Sale Consideration
- ₹15,50,00,000
- Sale Certificate Date
- 22nd September, 2026
- Acquisition Method
- E-auction under SARFAESI Act, 2002
- Purpose
- Expansion of existing business operations
What happened
The company participated in an e-auction conducted by Religare Finvest Limited, acting as secured creditor under the SARFAESI Act, 2002, and was declared the successful bidder/auction purchaser.
Property and price
- Property: Plot Nos. 9, Swami Vivekanand Road, 8 Tank Road, Santacruz (West), Mumbai.
- Total sale consideration: ₹15,50,00,000 (Rupees fifteen Crore Fifty Lakh only).
- Sale Certificate dated 22nd September, 2026 issued by the Authorised Officer of Religare Finvest Limited; the sale certificate letter was received on the date of this intimation.
Purpose
The company states the property has been acquired for expansion of its existing business operations.
Governance points
- The transaction is not a related party transaction.
- There is no interest of the promoter/promoter group in the transaction.
Context for a novice
A SARFAESI e-auction is a process where a lender sells property it holds as security to recover dues from a borrower. A Sale Certificate is the document confirming the buyer has won and purchased the asset. Here the company is the buyer of such a property, not the defaulting borrower.
More numbers
- Total sale consideration₹15,50,00,000
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