Company Update

Bank of India’s Malvan branch has issued a demand notice to borrower Saleem Hussain Shaikh for an outstanding cash credit loan of Rs. 9.97 lakh plus dues and expenses, against a residential property in Sindhudurg district.

The borrower has not responded, and the bank warns it will take possession and auction the secured asset if payment is not made within 60 days.

The borrower is also restricted from transferring the property without the bank’s written consent as per SARFAESI Act provisions.

This notice serves as a formal warning to resolve the dues promptly.