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Central Bank cuts reserve price for Wadia Thane land
Hindustan Times··21 Jul
Lenders led by Central Bank of India cut the reserve price for Wadia Realty's 95-acre land parcel in Thane to 1,375 crore rupees for an e-auction scheduled on August 20. Wadia Realty is the mortgagor and corporate guarantor of defunct Go Airlines India Limited formerly GoAir. The land is part of the Bombay Dyeing Group owned property at Bhayanderpada.
Prism
What It Means For You
- Go First bankruptcy recovery affects lender balance sheets and credit flows.
- Thane land auction signals distressed asset sales in aviation sector fallout.
- Real estate collateral auctions may create investment opportunities in Mumbai suburbs.
What's Happening
- Central Bank cut reserve price to 1,375 crore rupees for the Thane land.
- E-auction is scheduled for August 20 under SARFAESI Act.
- Wadia Realty guaranteed loans to defunct Go Airlines.
Debt Recovery Context
- Lenders seek over 3,918 crore rupees from Go First outstanding dues.
- Go Airlines owed 6,521 crore rupees before liquidation.
- The land parcel spans nearly 95 acres on Ghodbunder Road in Thane.
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