Private sector Yes Bank is auctioning off immovable properties of e-commerce company Magnum Solutions Ltd to recover its debt of Rs 345 crore. The auction will be done online on May 15. In its E-Auction notice, Yes Bank said that it had taken possession of the physical properties of Magnum Solutions Limited on August 29, 2020.
Yes Bank said that the auction of immovable assets of Magnum Solutions Limited will be done under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act.
