The mortgaged assets of Zoom Developers may be revalued
Zoom developers’ mortgaged assets may go for a revaluation by the lenders to Mumbai-investors since they failed to sell the block to recover part of the Rs 3,000-crore outstanding loans. A consortium of 25 lenders, led by Punjab National Bank had put seven assets of the project growth and information technology company on sale thrice without any success. United Bank of India had issued a sale notice on behalf of the lenders and said a senior banker involved in the process. The last notice was issued on November 18, 2013, and the last date of receiving the tender was December 19. “It seems no one’s willing to pay the reserve price. “We may need to engage a value afresh to do a valuation again and small the reserve price of the assets on the block”, said a senior banker.
Source: The Economic Times
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