ImportantCompany Update

Axis Bank, Federal Bank, and Indian Overseas Bank are actively recovering outstanding dues through property actions.

Simmonds Marshall Ltd507998 · Filed with the exchange

Axis Bank is auctioning 18 properties with total reserved prices of approximately ₹2.74 Crore.

Federal Bank will auction two commercial properties with a combined reserved price of ₹1.36 Crore, against over ₹4.46 Crore in dues.

Indian Overseas Bank has taken possession of a residential flat to recover ₹0.34 Crore.

These steps highlight the banks' ongoing efforts to manage and recover non-performing assets, which is a key aspect for their financial health.

Read the original filing(PDF)

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