Indian Bank has taken symbolic possession of a commercial property at 39 R B Ghosh Road, Purba Bardhaman due to unpaid dues of Rs. 18.67 Cr.

The borrower and guarantors failed to repay the amount despite multiple notices, leading the bank to initiate possession under the SARFAESI Act.

This means the property cannot be sold or transferred without the bank’s consent.

The move highlights ongoing asset recovery efforts, signaling pressure on the borrower to clear dues or face further enforcement and likely sale of the mortgaged asset.