Company Update

Vastu Housing Finance Corporation Limited has taken symbolic possession of a residential property ("Sivam Nagar," Site No. 9, Muthanampalayam Village, Tiruppur Taluk, Coimbatore Registration District) due to non-repayment of a demand notice amounting to Rs. 23,72,429 as of July 2023. The possession was taken to recover outstanding dues under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act.

Additionally, the company has issued a private treaty sale notice for another immovable property—a flat (No. S2, Second Floor, Balaji Avenue, Nandhivaram Village, Chennai) with a reserve price of Rs. 37 lakh—to recover dues of Rs. 39,76,858, which remains unpaid.

Interested buyers may contact the authorized officer for due diligence and purchase.

These actions reflect the company’s efforts to recover overdue loans through asset possession and sale, important for maintaining asset quality and reducing non-performing loans.