Tag: santacruz

YES Bank shifts to new Santacruz HQ, BFSI News, ET BFSI

Banking & Finance

[ad_1]

Read More/Less


Mumbai: The Yes Bank management and other executives on Tuesday relocated to the bank’s new headquarters at Santacruz in suburban Mumbai, which earlier housed Anil Dhirubhai Ambani Group’s headquarters. The bank has begun the process of vacating 10 floors of its rented premises in Indiabulls Finance Centre and shifting to the new premises, which is now called Yes Bank House.

“We are vacating the premises floor by floor and the complete transition will happen over a period of two months,” said Yes Bank MD & CEO Prashant Kumar. He said every month the bank will bring down its rental costs. Last week, the bank’s board approved the shifting of the registered office within the city.

Follow and connect with us on , Facebook, Linkedin



[ad_2]

CLICK HERE TO APPLY

Leave a comment , , , , , ,

Yes Bank takes over Anil Ambani’s Reliance Centre for Rs. 1200 cr, BFSI News, ET BFSI

Banking & Finance

[ad_1]

Read More/Less


Reliance Infrastructure Limited’s Reliance Centre at Santacruz, Mumbai has been taken over by private lender YES Bank for ₹1,200 crore. The office building is spread over a 21,432.28 square metre plot and houses Anil Ambani group’s headquarters.

Reliance Infra said in a statement, “Entire proceeds from sale of Reliance Centre, Santacruz is utilized only to repay the debt of YES Bank.”

The Anil Ambani-led group is one of the biggest borrowers of YES Bank. The bank has also taken over another property of the group situated at Veer Nariman Road in Mumbai.

Last year, Yes Bank had said that it was taking possession of the Santacruz building and two other smaller properties owned by the company under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act for the loan amount of Rs 2,892 crore.

YES Bank had then said it had issued a demand notice on May 6, 2020 to Reliance Infrastructure Ltd under the SARFAESI Act to repay the dues within 60 days, which the latter failed to repay.

In January, 2021 Anil Ambani-led Reliance Infrastructure completed the sale of its entire holding in a power transmission joint venture with the state-run Power Grid Corporation of India for an enterprise value of Rs 900 crore.



[ad_2]

CLICK HERE TO APPLY

Leave a comment , , , , , ,