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Bank of India's securitisation effort
COIMBATORE:
Bank of India has taken possession of properties of Match Winner Tex Pvt. Ltd., which were pledged in connection with the loan obtained from the bank, under the provisions of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, says a release. The company had availed itself of a loan from the bank and the current outstanding amount was more than Rs. 3 crore. It was taking steps to bring the properties for sale to recover the default amount, the release said.
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