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Saravana Stores declared a 'fraud' account by Indian Bank - The Hindu BusinessLine

Saravana Stores declared a ‘fraud’ account by Indian Bank
May 05, 2021
Bank makes provision of Rs 115 crore against the account
Indian Bank has declared Saravana Stores (Gold Palace), a non-performing asset account with outstanding dues of ₹230.74 crore, as “fraud” and reported it to the Reserve Bank of India, the bank informed the stock exchanges.
The Chennai-headquartered Indian Bank has already made a provision of ₹115.32 crore against the account.
In March, Indian Bank had issued a sale notice of two immovable properties belonging to Saravana Stores (Gold Palace) in T Nagar, a commercial hub of Chennai, to recover dues of ₹288 crore from its partners, guarantors and title holders. ....

Tamil Nadu , Saravana Stores Gold Palace , Indian Bank , Saravana Stores , Gold Palace , Reserve Bank , Chennai Headquartered Indian Bank , தமிழ் நாடு , சரவணா கடைகள் தங்கம் அரண்மனை , இந்தியன் வங்கி , சரவணா கடைகள் , தங்கம் அரண்மனை , இருப்பு வங்கி ,

COVID-19: Chennai hotels fear losses as new restrictions kick in, migrant workers begin to leave

COVID-19: Chennai hotels fear losses as new restrictions kick in, migrant workers begin to leave
Tamil Nadu Hotels Association President M Venkadasubbu told The New Indian Express that it is difficult to retain migrant workers with the new phase of restrictions announced by the state government
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Migrant labourers throng Central railway station due to the lockdown in Chennai on Monday (Express Photo | R Satish Babu)
Express News Service
CHENNAI: The new round of restrictions and the rise in the number of cases due to the second wave of the COVID-19 pandemic is forcing migrant workers to rethink on whether to continue working or return to their home states. ....

Tamil Nadu , S Rama Prabhu , R Satish Babu , Credai National , Saravana Stores , Tamil Nadu Hotels Association , News Service , Development Affordable Housing Committee , Builders Association Of India , Nadu Hotels Association Presidentm Venkadasubbu , New Indian Express , Affordable Housing Committee , தமிழ் நாடு , கள் ராமா பிரபு , ர் சத்தீஷ் பாபு , சரவணா கடைகள் , தமிழ் நாடு ஹோட்டல் சங்கம் , செய்தி சேவை , பில்டர்கள் சங்கம் ஆஃப் இந்தியா , புதியது இந்தியன் எக்ஸ்பிரஸ் ,

Saravana Stores outlet in Chennai shut after 39 employees in dorm test positive for COVID-19

Saravana Stores outlet in Chennai shut after 39 employees in dorm test positive for COVID-19
newindianexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newindianexpress.com Daily Mail and Mail on Sunday newspapers.

Tamil Nadu , Madhar Sha , Saravana Stores , News Service , Kariappa Street , Communicable Diseases Hospital , தமிழ் நாடு , சரவணா கடைகள் , செய்தி சேவை , தொடர்பு கொள்ளக்கூடியது நோய்கள் மருத்துவமனை ,

Indian Bank to auction two properties owned by Saravana Stores Gold Palace

Public sector lender Indian Bank has put on sale two immovable properties of Saravana Stores (Gold Palace) at T Nagar in Chennai.
The bank has issued a notice of sale to recover Rs 288 crore from the jewellery represented by its partners, guarantors and title holders.
While the property located on Usman Road measures 4,800 sq ft and has a reserve price of Rs 124 crore, the second property located on Ranganathan Street has a reserve price of Rs 46 crore. Both are located in T Nagar, one of the country s leading commercial hubs.
In January 2020, Karur Vysya Bank said that the outstanding stood at Rs 162.8 crore. ....

Tamil Nadu , Y Pallaku Durai , Pallaku Durai , Saravana Stores Gold Palace , Indian Bank , Karur Vysya Bank , Saravana Stores Gold Palace Ltd , Saravana Stores , Gold Palace , Busman Road , Ranganathan Street , தமிழ் நாடு , சரவணா கடைகள் தங்கம் அரண்மனை , இந்தியன் வங்கி , கரூர் விச்ய வங்கி , சரவணா கடைகள் தங்கம் அரண்மனை லிமிடெட் , சரவணா கடைகள் , தங்கம் அரண்மனை , உஸ்மேன் சாலை , ரங்கநாதன் தெரு ,