Bank to move BIFR on ABCL

MUMBAI, JULY 18: Canara Bank would tomorrow move an application before the Board for Industrial and Financial Reconstruction (BIFR) for a...

MUMBAI, JULY 18: Canara Bank would tomorrow move an application before the Board for Industrial and Financial Reconstruction (BIFR) for attachments of two flats owned by ABCL (formerly Amitabh Bachchan Corporation Ltd) to recover Rs ten crore advanced to the firm floated by the mega star of yesteryears.

The flats, measuring about 1700 square feet, are located in suburban Juhu and valued at more than Rs one crore, counsel for Canara Bank, Nishit Dhruve, said here.

The bank would seek BIFR’s permission to proceed with the court receiver for attachment of these flats, he said.

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